Find the effective interest rate per quarter at a nominal rate of 8% compounded (a) weekly, (b) daily, and (c) continuously.

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter6: Exponential And Logarithmic Functions
Section6.1: Exponential Functions
Problem 68SE: An investment account with an annual interest rateof 7 was opened with an initial deposit of 4,000...
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Find the effective interest rate per quarter at a nominal rate of 8% compounded (a) weekly, (b) daily, and (c) continuously.

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