Mathematics, 04.11.2020 14:00 lealaslee858
After receiving her retirement pay of P10,000,000, Hazel is approached by
two banks offering slightly different deposit products. Bank A is offering an
interest rate of 5% with the interest computed on a simple basis. On the
other hand, Bank B offers a lower rate of 4.5%, compounded annually. If
Hazel intends to keep the deposit for the next 10 years, which bank offers
the better product?
Answers: 2
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After receiving her retirement pay of P10,000,000, Hazel is approached by
two banks offering slight...
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