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Question 3 (5 marks) Bank A pays interest rates i(10)=9%. Bank B pays a nominal...

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Question 3 (5 marks) Bank A pays interest rates i(10)=9%. Bank B pays a nominal discount rate of 8.8% compounded semiannually. Tom decides to invest 500 in Bank A at time 0. a) Which bank gives the higher return? b) Find Tom's accumulated amount after 10 months

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