Determine the effective rate of interest for 4.275% compounded semiannually. Round your final answer to 3 decimal places
Posted: Thu May 12, 2022 2:45 pm
Determine the effective rate of interest for 4.275% compounded
semiannually. Round your final
answer to 3 decimal places.
(b) Determine the effective rate of interest for 4.25% compounded
continuously. Round your final
answer to 3 decimal places.
(c) If offered a loan at 4.275% compounded semiannually and a loan
at 4.25% compounded continuously,
which loan would you take? You must use your responses from parts
(a) and (b) to explain
your reasoning.
semiannually. Round your final
answer to 3 decimal places.
(b) Determine the effective rate of interest for 4.25% compounded
continuously. Round your final
answer to 3 decimal places.
(c) If offered a loan at 4.275% compounded semiannually and a loan
at 4.25% compounded continuously,
which loan would you take? You must use your responses from parts
(a) and (b) to explain
your reasoning.