suppose maria is a sports fan and buys only baseball caps. maria deposits $3,000 in a bank account that pays an annual nominal interest rate of 10%. assume this interest rate is fixed—that is, it won't change over time. at the time of her deposit, a baseball cap is priced at $15.00.

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05-10-2022
Business

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suppose maria is a sports fan and buys only baseball caps. maria deposits $3,000 in a bank account that pays an annual nominal interest rate of 10%. assume this interest rate is fixed—that is, it won't change over time. at the time of her deposit, a baseball cap is priced at $15.00.

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