The first national bank pays a 4% interest rate compound continuously. The effective annual rate paid by the bank is

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The first national bank pays a 4% interest rate compound continuously. The effective annual rate paid by the bank is __________.
a. 4.16%
b. 4.20%
c. 4.08%
d. 4.12%

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Question Posted: May 20, 2013 06:49:23