Mathematics, 13.06.2020 01:57 josephdakota
Gavin deposited money into his savings account that is compounded annually at an interest rate of 9%. Gavin thought the equivalent quarterly interest rate would be 2.25%. Is Gavin correct? If he is, explain why. If he is not correct, state what the equivalent quarterly interest rate is and show how you got your answer.
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Gavin deposited money into his savings account that is compounded annually at an interest rate of 9%...
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