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. If a bank advertises a savings account that paysan 8% nominal interest rate compounded continuously, what is the effective annual percentage rate

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter5: The Time Value Of Money

Section: Chapter Questions

Problem 15QTD

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. If a bank advertises a savings account that pays
an 8% nominal interest rate compounded continuously, what is the effective annual percentage rate

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