You have just started to deposit $250 at the end of each month into a bank...

You have just started to deposit $250 at the end of each month into a bank account. The bank manager states that you can receive $20,000 after 6 years from that account, if there is no transaction other than monthly deposits. What is interest rate provided by the bank for this account?

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You can solve these using 2 methods 1) excel2) financial calculator

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jeff jeffy answered 1 year ago

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You have just started to deposit $250 at the end of each month into a bank...

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