annual interest rate of convertible every five days, đếtermine th sum of the quivalent: (1) (ii) constant force of interest; and nominal annual discount rate compounded quarterly. dote: There are 365 days in a year. Give your answer as a decimal rounded to four places (i.e. .XXXX). Please note that the required answer is a decimal and not a percentage.
annual interest rate of convertible every five days, đếtermine th sum of the quivalent: (1) (ii) constant force of interest; and nominal annual discount rate compounded quarterly. dote: There are 365 days in a year. Give your answer as a decimal rounded to four places (i.e. .XXXX). Please note that the required answer is a decimal and not a percentage.
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Transcribed Image Text:Given a nominal annual interest rate of 7.5% convertible every five days, determine the sum of the
equivalent:
(1)
(ii)
constant force of interest; and
nominal annual discount rate compounded quarterly.
Note: There are 365 days in a year. Give your answer as a decimal rounded to four places (i.e.
X.XXXX).
Please note that the required answer is a decimal and not a percentage.
Selected Answer: 8.0906
Response Feedback: Incorrect!
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