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 %.

Economics Today and Tomorrow, Student Edition

1st Edition

ISBN:9780078747663

Author:McGraw-Hill

Publisher:McGraw-Hill

Chapter6: Saving And Investing

Section6.1: Why Save?

Problem 6R

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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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