February 23, 2017

Homework Help: Math - Compound

Posted by Anonymous on Saturday, January 24, 2009 at 4:48pm.

If a bank offers interest at a nominal rate of 6%, how much greater is the effective rate if interest is compounded continuously than if the compounding is quarterly?

I don't get this question at all... All I'm given is the rate and how am I suppose to compare compounded continuously and quarterly if I'm not given the initial value, time and so on...

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