Calculate the effective annual rates for the following: a. 24%, compounded daily b. 24%, compounded quarterly c.
Question:
Calculate the effective annual rates for the following:
a. 24%, compounded daily
b. 24%, compounded quarterly
c. 24%, compounded every four months
d. 24%, compounded semi-annually
e. 24%, compounded continuously
f. Calculate the effective monthly rate for parts (a) to (d).
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a m 365 b m 4 c m 3 d m 2 e Continuous co...View the full answer
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ISBN: 9781118300763
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