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Question 5 Charlie received R32 412,87 after investing an amount of money in an account earning interest at a continuous compounding rate of 10,15% per
Question 5 Charlie received R32 412,87 after investing an amount of money in an account earning interest at a continuous compounding rate of 10,15% per year. The amount of money that he invested 57 weeks earlier, is
[1] R29 167,68.
[2] R29 000,00.
[3] R32 768,16.
[4] R36 227,38.
[5] R29 153,86.
If Hilda earns a nominal interest rate of 16,5% per annum, compounded at the end of every second month, on a savings account, then the effective interest rate is
[1] 18,00%.
[2] 14,53%.
[3] 17,68%.
[4] 16,18%.
[5] 16,68%.
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