Question
A deposit account pays 10% per annum with continuous compounding, but interest is actually paid semiannually. How much interest will be paid each quarter on
A deposit account pays 10% per annum with continuous compounding, but interest is actually paid semiannually. How much interest will be paid each quarter on a $5,000 deposit?
| a. 304.55 | ||
| b. 256.36 | ||
| c. 291.50 | ||
| d. 287.37 |
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Financial Markets And Institutions
Authors: Anthony Saunders, Marcia Cornett
7th Edition
1259919714, 978-1259919718
