Explain how you can match the interest rates (a)(e) with the effective annual rates IV
Chapter 0, Problem 11(choose chapter or problem)
Explain how you can match the interest rates (a)(e) with the effective annual rates IV without calculation. (a) 5.5% annual rate, compounded continuously. (b) 5.5% annual rate, compounded quarterly. (c) 5.5% annual rate, compounded weekly. (d) 5% annual rate, compounded yearly. (e) 5% annual rate, compounded twice a year. I. 5% II. 5.06% III. 5.61% IV. 5.651% V. 5.654%
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