A department store charges 13/4%interest per month, compounded continuously, on its customer's charge accounts. What is the

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A department store charges 13/4%interest per month, compounded continuously, on its customer's charge accounts. What is the nominal annual interest rate? What is the effective interest rate?

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Engineering Economics

ISBN: 9780195168075

9th Edition

Authors: Ted G. Feller

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Question Posted: Mar 01, 2010 04:48 AM

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A department store charges 13/4%interest per month, compounded continuously, on its customer's charge accounts. What is the

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