Some banks advertise that money in their accounts is compounded continuously. To get an understanding of...

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Some banks advertise that money in their accounts is compounded continuously. To get an understanding of what this means, divide the year into 100,000 compounding periods per year. Apply the compound interest formula for finding future value to approximate what the effective yield would be if the compounding were done continuously for the stated nominal yield. nominal yield, 15% The effective annual yield would be %. (Type an integer or a decimal rounded to the nearest hundredth as needed.) Some banks advertise that money in their accounts is compounded continuously. To get an understanding of what this means, divide the year into 100,000 compounding periods per year. Apply the compound interest formula for finding future value to approximate what the effective yield would be if the compounding were done continuously for the stated nominal yield. nominal yield, 15% The effective annual yield would be %. (Type an integer or a decimal rounded to the nearest hundredth as needed.)