Applied Calculus, 6e WileyPLUS + Loose-leaf
Applied Calculus, 6e WileyPLUS + Loose-leaf
6th Edition
ISBN: 9781119408901
Author: Deborah Hughes-Hallett, Andrew M. Gleason, Patti Frazer Lock, Daniel E. Flath
Publisher: Wiley (WileyPLUS Products)
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Chapter B, Problem 5P

(a)

To determine

Find (1+0.04/n)n for n = 10,000 and 100,000 and 1,000,000. Use the results to predict the effective annual rate of a 4% annual rate compounded continuously.

(b)

To determine

Confirm your answer by computing e0.04.

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