Suppose a principal of 2500 Rials accumulated to 4000 Rials over a period of 8 years. Determine the nominal rate if it was compounding continuously. O 5.88 % O 5.96 % O 5.92 % O 6.05 %

Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
ChapterA3: Time Value Of Money
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Suppose a principal of 2500 Rials accumulated to 4000 Rials over a period of 8 years. Determine the nominal rate if it was
compounding continuously.
O 5.88 %
O 5.96 %
5.92 %
O 6.05 %
Transcribed Image Text:Suppose a principal of 2500 Rials accumulated to 4000 Rials over a period of 8 years. Determine the nominal rate if it was compounding continuously. O 5.88 % O 5.96 % 5.92 % O 6.05 %
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