a) $100 invested at 12% compounded continuously after the period of 3years. Which two rates would yield larger amount in 1 year in problem
9% compounded quarterly or 9% compounded annually.
b) Determine effective rate of interest.
(i) how long it takes for investment to tripple in value if it is invested 6% compounded monthly?
(ii) how long it takes if interest is compounded continuously.