Determine number if effective yield appears to converge, Mathematics

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Determine number if effective yield appears to converge

Standard federal bank presently offers the 36-month certificate of deposit which pays interest at nominal rate of 6% per year. Study table below illustrating effective yield for different compounding periods.

annual 1.06
monthly 1.0616778
daily 1.0618313
hourly 1.0618363

As compounding periods grow shorter, effective yield appears to converge to the particular number. Determine that number?

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Mathematics: Determine number if effective yield appears to converge

Reference No:- TGS0857568

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Recent Questions Asked Mathematics

Q : Determine dimensions to provide largest area for rectangle

Q : Determine function which models cost of fencing garden

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Q : Formulate the null and alternative hypotheses

Q : Determine number if effective yield appears to converge

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Ask an Expert for Answer!!

Mathematics: Determine number if effective yield appears to converge

Reference No:- TGS0857568

Recent Questions Asked Mathematics

Q : Determine dimensions to provide largest area for rectangle

Q : Determine function which models cost of fencing garden

Q : Bernoulli trials procedure with success

Q : Formulate the null and alternative hypotheses

Q : Determine number if effective yield appears to converge

Q : Normal population produced the mean

Q : Conduct an appropriate experiment

Q : What rent must be charged to get maximum profit

Q : Confidence in our estimate of proportion of infected chicken

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