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Which of the following different interest charging plans has the lowest annual interest rate? 1) 9% per year, compounded quarterly 2) 3% per quarter, compounded
Which of the following different interest charging plans has the lowest annual interest rate? 1) 9% per year, compounded quarterly 2) 3% per quarter, compounded quarterly 3) 8.8% per year, compounded monthly An investor requires an effective return rate of 15% per year. What is the equivalent nominal rate that is acceptable (generates the same annual rate) if interest on his investment would be compounded continuously
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