Question
What is the effective rate of interest when a nominal rate of 10% per year is compounded contionuously? I believe i got the first step
What is the effective rate of interest when a nominal rate of 10% per year is compounded contionuously?
I believe i got the first step right but I dont know where to go from there.
Reff=e^r-1
Reff=e^0.10-1
Thank you
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Investments
Authors: Zvi Bodie, Alex Kane, Alan J. Marcus
10th edition
77861671, 978-0077861674
