Question: 2) Find the effective rate for each percent and compounded below (round percent to the 100th) 9.6% Compounded continuously 9.7% Compounded quarterly e-1 (1+r/c)-1 Explain

2) Find the effective rate for each percent and compounded below (round percent to the 100th) 9.6% Compounded continuously 9.7% Compounded quarterly e-1 (1+r/c)-1 Explain what the effective rate is used for

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