Problem 4- If effective interest rate is 15% per year. Find the equivalent nominal interest rate if: 1. Compounding is monthly 2. Compounding is daily 3. Compounding is continuously Note: Use 4 decimal points like 12.3456%

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Problem 4- If effective interest rate is 15% per year. Find the equivalent nominal interest rate if:
1. Compounding is monthly
2. Compounding is daily
3. Compounding is continuously
Note: Use 4 decimal points like 12.3456%
Transcribed Image Text:Problem 4- If effective interest rate is 15% per year. Find the equivalent nominal interest rate if: 1. Compounding is monthly 2. Compounding is daily 3. Compounding is continuously Note: Use 4 decimal points like 12.3456%
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