A bank advertises mortgages at 12% com-pounded continuously. What is the effective annual interest? (a) 12.36% (b)
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A bank advertises mortgages at 12% com-pounded continuously. What is the effective annual interest?
(a) 12.36%
(b) 12.55%
(c) 12.75%
(d) 12.68%
(e) 12.00%
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Related Book For
Engineering Economy
ISBN: 978-0133439274
16th edition
Authors: William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
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