Which of the following is closest to the fixed rate of interest over that period, assuming that each year the interest was reinvested in the deposit account?5%6%7%8%
Question
Which of the following is closest to the fixed rate of interest over that period, assuming that each year the interest was reinvested in the deposit account?5%6%7%8%
Solution
Your question seems to be incomplete. You mentioned a fixed rate of interest and a period, but you didn't specify the period or provide any details about the interest calculation. Could you please provide more details or context? For example, are you asking about simple interest or compound interest? And over what period of time?
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