Business, 18.10.2019 21:10 ellllaaaxx
Suppose valerie is an avid reader and buys only mystery novels. valerie deposits $3,000 in a bank account that pays an annual nominal interest rate of 15%. assume this interest rate is fixed—that is, it won't change over time. at the time of her deposit, a mystery novel is priced at $15.00. initially, the purchasing power of valerie's $3,000 deposit is mystery novels.
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Suppose valerie is an avid reader and buys only mystery novels. valerie deposits $3,000 in a bank ac...
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