A bank pays 10% nominal annual interest on special three-year certificates. What is the effective annual interest
Question:
(a) Every three months?
(b) Daily?
(c) Continuously?
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a Effective Interest Rate 1 i m 1 1025 4 1 01038 1038 b Effective Interes...View the full answer
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Related Book For
Engineering Economic Analysis
ISBN: 9780195168075
9th Edition
Authors: Donald Newnan, Ted Eschanbach, Jerome Lavelle
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