The effective yield of an investment plan is the percent increase in the balance after 1 year.
Question:
(a) 7% annual interest rate, compounded annually
(b) 7% annual interest rate, compounded continuously
(c) 7% annual interest rate, compounded quarterly
(d) 7.25% annual interest rate, compounded quarterly
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a P 1000 r 007 compounded annually n 1 Effective yield A P1 r n rt 10001 007 1 1 1070 1070 10...View the full answer
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