What effective interest rate per two-months, compounded continuously, is equivalent to a nominal rate of 10% per year? (Round the final answer to three decimal places.) The effective interest rate per two-months is %.

What effective interest rate per two-months, compounded continuously, is equivalent to a nominal rate of 10% per year? (Round the final answer to three decimal places.) The effective interest rate per two-months is %.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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What effective interest rate per two-months, compounded continuously, is equivalent to a nominal rate of 10% per year? (Round the final answer to three decimal places.)

The effective interest rate per two-months is %.

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