Question
6.) Tom deposits $100 in a bank; nominal interest rate is 10%. How much interest rate will he earn after (a) 1 day (continuously compound)
6.) Tom deposits $100 in a bank; nominal interest rate is 10%. How much interest rate will he earn after
(a) 1 day (continuously compound)
(b) 6 months (compound monthly)
(c) 120 days (compounded daily)
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International Financial Reporting And Analysis
Authors: David Alexander, Ann Jorissen, Martin Hoogendoorn
8th Edition
978-1473766853, 1473766850
