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The Business Section of the Metropolis Express lists Megabux Bank as paying % interest, compounded daily, on a minimum deposit, for a “yield” (or overall gain) of %. Homework Help ✎

  1. Compute how much an initial deposit will be worth after one year at Megabux Bank.

  2. Confirm the % “yield.”

    Refer to the hint in part (a).

  3. When will the initial deposit be worth ?