An account has a nominal interest rate of 12% (annually) and an effective interest rate of approximately 12.75% (also annually). The compounding period is most likely which of the following: a) monthly b) yearly c) continuous d) daily

An account has a nominal interest rate of 12% (annually) and an effective interest rate of approximately 12.75% (also annually). The compounding period is most likely which of the following: a) monthly b) yearly c) continuous d) daily

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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