Answered: An investment account earns 6.9%…

An investment account earns 6.9% Interest, compounded continuously. What is the effective annual interest rate of the account? Write your answer as a percentage, and round to four decimal places.

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter5: The Time Value Of Money

Section: Chapter Questions

Problem 45P

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Question

An investment account earns 6.9% Interest, compounded continuously. What is
the effective annual interest rate of the account? Write your answer as a
percentage, and round to four decimal places.

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