1. You deposit NOK 250,000 in a savings account. The bank offers 0.25% nominal annual interest rate. How long do you have to leave the money in the account before you have NOK 260,000 in the account?...

1. You deposit NOK 250,000 in a savings account. The bank offers 0.25% nominal annual<br>interest rate. How long do you have to leave the money in the account before you have<br>NOK 260,000 in the account?<br>a) At quarterly interest?<br>b) By continuous interest?<br>c) What must the interest rate be if you want to reach the savings target of 10 years by annual<br>return?<br>

Extracted text: 1. You deposit NOK 250,000 in a savings account. The bank offers 0.25% nominal annual interest rate. How long do you have to leave the money in the account before you have NOK 260,000 in the account? a) At quarterly interest? b) By continuous interest? c) What must the interest rate be if you want to reach the savings target of 10 years by annual return?

Jun 08, 2022

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1. You deposit NOK 250,000 in a savings account. The bank offers 0.25% nominal annual interest rate. How long do you have to leave the money in the account before you have NOK 260,000 in the account?...

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