Find the effective rate of Interest that is equivalent to an 7% rate compounded monthly. O 7.20 % O 7.00 % O 7.23 % O 7.12 % O 7.19 %

Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
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Find the effective rate of Interest that is equivalent
to an 7% rate compounded monthly.
O 7.20 %
O 7.00 %
O 7.23 %
O 7.12 %
7.19 %
Transcribed Image Text:Find the effective rate of Interest that is equivalent to an 7% rate compounded monthly. O 7.20 % O 7.00 % O 7.23 % O 7.12 % 7.19 %
If an amount $3784 is invested at 15%
compounded continuously, what will the future
value be in 5 years.
283800.00
O 18920.00
O 21981.90
O 3804.00
O 572.60
Transcribed Image Text:If an amount $3784 is invested at 15% compounded continuously, what will the future value be in 5 years. 283800.00 O 18920.00 O 21981.90 O 3804.00 O 572.60
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