If you have an account that compounds interest continuously, Microeconomics

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If you have an account that compounds interest continuously

Problem

1. If you have an account that compounds interest continuously and has an effective annual interest yield of 6.18 percent, what is the stated annual interest rate?

2. What rate of interest compounded monthly is equivalent to 18 percent compounded continuously?

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Microeconomics: If you have an account that compounds interest continuously

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Microeconomics: If you have an account that compounds interest continuously

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