How much is P 100,000.00 worth in three years if deposited in a continuously compounded account with a nominal interest rate of 3%. Determine also its effective rate in one year period compounded; a) daily (on leap year), b) monthly, c) bi-monthly d) quarterly (Note: Answer must be in percentage and in four decimal places) 3.
How much is P 100,000.00 worth in three years if deposited in a continuously compounded account with a nominal interest rate of 3%. Determine also its effective rate in one year period compounded; a) daily (on leap year), b) monthly, c) bi-monthly d) quarterly (Note: Answer must be in percentage and in four decimal places) 3.
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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![How much is P 100,000.00 worth in three years if deposited in a continuously compounded account with a nominal
interest rate of 3%. Determine also its effective rate in one year period compounded; a) daily (on leap year), b)
monthly, c) bi-monthly d) quarterly (Note: Answer must be in percentage and in four decimal places)
3.
Given:
Required:
Solution:](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F215ae4f5-56cd-4417-abec-5822d70e4e97%2F6052eaf9-50bf-4848-a0ab-e006ce7813e4%2Fa5pbqyr_processed.jpeg&w=3840&q=75)
Transcribed Image Text:How much is P 100,000.00 worth in three years if deposited in a continuously compounded account with a nominal
interest rate of 3%. Determine also its effective rate in one year period compounded; a) daily (on leap year), b)
monthly, c) bi-monthly d) quarterly (Note: Answer must be in percentage and in four decimal places)
3.
Given:
Required:
Solution:
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