One bank advertises a nominal rate of 5.82% compounded quarterly. A second bank advertises a nominal rate of 5.8% compounded weekly. What are the effective yields? (Round your answers to two decimal places.) first bank % second bank %
One bank advertises a nominal rate of 5.82% compounded quarterly. A second bank advertises a nominal rate of 5.8% compounded weekly. What are the effective yields? (Round your answers to two decimal places.) first bank % second bank %
Algebra for College Students
10th Edition
ISBN:9781285195780
Author:Jerome E. Kaufmann, Karen L. Schwitters
Publisher:Jerome E. Kaufmann, Karen L. Schwitters
Chapter10: Exponential And Logarithmic Functions
Section10.2: Applications Of Exponential Functions
Problem 25PS
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One bank advertises a nominal rate of 5.82% compounded quarterly. A second bank advertises a nominal rate of 5.8% compounded weekly. What are the effective yields? (Round your answers to two decimal places.)
first bank | % | |
second bank |
%
|
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