How much more interest would accrue on a $1000 debt in a year at 6% compounded daily

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How much more interest would accrue on a $1000 debt in a year at 6% compounded daily than at 6% compounded monthly?

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Business Mathematics In Canada

ISBN: 9781260065992

10th Edition

Authors: F. Ernest Jerome, Tracy Worswick

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Question Posted: Jul 28, 2022 01:34 AM

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How much more interest would accrue on a $1000 debt in a year at 6% compounded daily

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Since the effective rate corresponding to 6 compounded daily ...View the full answer

Business Mathematics In Canada

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