1. Business
  2. Economics
  3. 1a your company is interested in deposing excess cash in...

Question: 1a your company is interested in deposing excess cash in...

Question details

1(a) Your company is interested in deposing excess cash in a bank savings account that offers 3% interest per year, compounded daily. What is the effective interest rate per year?

Solution by an expert tutor
Blurred Solution
This question has been solved
Subscribe to see this solution