You have $$10,000$ in the bank comfortably earning $4\%$ interest compounded semiannually. Your cousin needs $$10,000$ to buy a new car. In order to get the same total return, what interest rate $r$ should you request from her if the money you lend her is to be compounded continuously?

Exact interest rate $($without using a calculator$),r=$

Interest rate, as a percent, rounded to $2$ decimal places $=1\%$

$[-/1$ Points$]$

Math $110$ Course Resources

Compound Interest Course Packet on the effective rate of interest

Find the effective interest rate corresponding to a nominal interest rate of $6\%$ compounded semiannually.

Effective interest rate $($without using a calculator$),r_{\text{e}\text{f}\text{f}}=$

Effective interest rate, as a percent, rounded to $2$ decimal places $=\%$