What rate should bank set if it wants to match vanscoy bank
Problem
Vanscoy Bank pays 6.8% simple interest on its investment accounts. If Vade Bank pays interest on its accounts compounded annually, what rate should the bank set if it wants to match Vanscoy Bank over an investment horizon of 10 years?
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If Vade Bank pays interest on its accounts compounded annually, what rate should bank set if it wants to match Vanscoy Bank over investment horizon of 10 years?
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