Question
Consider a loan with a quoted rate of 10%, compounded quarterly. What would be the quoted rate on a loan that has the same effective
Consider a loan with a quoted rate of 10%, compounded quarterly. What would be the quoted rate on a loan that has the same effective annual rate but is compounded continuously?
The answer should be 9.88%, please teach me the explanation and the calculation
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Investments An Introduction
Authors: Herbert B Mayo
11th Edition
1133936520, 9781133936527
