Mathematics
Mathematics, 21.04.2020 18:00, cluchmasters3831

City Bank pays a simple interest rate of
3% per year, meaning that each year the
balance increases by 3% of the initial
deposit
Write an expression for Cly), the city in years
after a deposit is left in the account. Write an
expression for N(m), the National Bank, m
months after a deposit is left in the account.
C(y)=
National Bank pays a compound interest
rate of 2.6% per year, compounded
monthly, meaning that each month the
balance increases by one twelfth of 2.6%
of the previous month's balance.
N(m)=

answer
Answers: 3

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City Bank pays a simple interest rate of
3% per year, meaning that each year the
balance...

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