Ace Zenovia Bank and Trust deposits $2,567,223 ofexcess
Chapter , Problem 3-63(choose chapter or problem)
Ace Zenovia Bank and Trust deposits $2,567,223 ofexcess capital in the Federal Reserve Bank. If theFed pays 4% interest compounded daily, how muchinterest will Zenovia earn by leaving the money ondeposit for two years? By how much does assumingcontinuous compounding change the answer?
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