A bank advertises mortgages at 12% com-pounded continuously. What is the effective annual interest? (a) 12.36% (b)

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A bank advertises mortgages at 12% com-pounded continuously. What is the effective annual interest?
(a) 12.36%

(b) 12.55%

(d) 12.68%

(e) 12.00%

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Engineering Economy

ISBN: 978-0133439274

16th edition

Authors: William G. Sullivan, Elin M. Wicks, C. Patrick Koelling

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Question Posted: Dec 03, 2018 12:42 PM

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A bank advertises mortgages at 12% com-pounded continuously. What is the effective annual interest? (a) 12.36% (b)

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