3-54 A department store charges 13/4% interest per month compounded continuously, on its customer's charge accounts. What

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3-54 A department store charges 13/4% interest per month compounded continuously, on its customer's charge accounts. What is the nominal annual interest rate What is the effective interest rate? (Answers: 21% 23.4%)

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Engineering Economic Analysis

ISBN: 9780357419687

11th Edition

Authors: Donald Newnan, Ted Eschenbach, Jerome Lavelle

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Question Posted: Oct 26, 2024 07:01 AM

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3-54 A department store charges 13/4% interest per month compounded continuously, on its customer's charge accounts. What

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Engineering Economic Analysis

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