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6. An investment of $10,000 increases to $10,581 after 8 months. a) What is the annual nominal rate with monthly compounding? b) What is the
6. An investment of $10,000 increases to $10,581 after 8 months. a) What is the annual nominal rate with monthly compounding? b) What is the equivalent annual nominal rate with semiannual compounding? c) Interest rates are increased so that the equivalent annual effective rate to the above is increased by 2% (as in, a rate of 3% would become 5%). What is the new equivalent continuously compounding rate
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