Find the effective annual interest rates of the given nominal annual interest rates. Round your answers to the nearest 0.01%. HINT [See Quick Example 5.] 30% compounded every minute (assume 365 days per year) r= * %

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
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ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter7: Exponents And Exponential Functions
Section: Chapter Questions
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Find the effective annual interest rates of the given nominal annual interest rates. Round your answers to the nearest 0.01%. HINT [See Quick Example 5.]
30% compounded every minute (assume 365 days per year)
X %
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Transcribed Image Text:Find the effective annual interest rates of the given nominal annual interest rates. Round your answers to the nearest 0.01%. HINT [See Quick Example 5.] 30% compounded every minute (assume 365 days per year) X % Need Help? Master It Submit Answer Read It
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