Bank C promises to pay a compound annual interest rate of 6 percent, while Bank S pays an 8 percent simple annual interest rate on deposits. If you deposit $1,000 in each bank, after 10 years, your deposit in Bank C equals ________, while your deposit in Bank S equals ________.
A. $1,600; $2,159
B. $1,600; $1,800
C. $1,791; $1,800
D. $1,060; $1,800
Answer: C
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GDP measures the output produced by all of a country's resources
a. True b. False
In 2005, the percentages of mortgages that were considered sub-prime:
a. increased dramatically.
b. increased minimally
c. decreased minimally.
d. decreased dramatically.
Which of the following is NOT included in M1?
A. savings accounts B. deposits in checking accounts C. deposits in checking accounts that pay interest D. traveler's checks