Business, 08.10.2019 02:30 sillslola816oxb5h7
You have a savings account in which you leave the funds for one year without adding to or withdrawing from the account. which would you rather have:
a daily compounded rate of 0.045%,
a weekly compounded rate of 0.355%,
a monthly compounded rate of 1.35%,
a quarterly compounded rater of 3.75%,
a semiannually compounded rate of 8%, or
an annually compounded rate of 16%?
what is the effective annual rate (ear) of a daily compounded rate of 0.045%?
Answers: 1
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