ECON A nominal annual rate of interest of 7%, compounded continuously, has an effective annual interest rate of? Which of the following has the least effective annual interest rate? a. 12 % compounded quarterly b. 11.7 % compounded semi-annually c. 11.5 % compounded monthly d. 12.2 % compounded annually
ECON A nominal annual rate of interest of 7%, compounded continuously, has an effective annual interest rate of? Which of the following has the least effective annual interest rate? a. 12 % compounded quarterly b. 11.7 % compounded semi-annually c. 11.5 % compounded monthly d. 12.2 % compounded annually
Engineering Fundamentals: An Introduction to Engineering (MindTap Course List)
5th Edition
ISBN:9781305084766
Author:Saeed Moaveni
Publisher:Saeed Moaveni
Chapter20: Engineering Economics
Section: Chapter Questions
Problem 5P
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Question
ECON
A nominal annual rate of interest of 7%, compounded continuously, has an effective annual interest rate of?
Which of the following has the least effective annual interest rate?
a. 12 % compounded quarterly
b. 11.7 % compounded semi-annually
c. 11.5 % compounded monthly
d. 12.2 % compounded annually
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