CHE374F-Quiz01 Sol-2009 - CHE374F Quiz #1 Solution 2009...

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CHE374F – Quiz #1 Solution – 2009 Given Calculate Answer 8 % interest per year (effective) Monthly interest rate based on monthly compounding ሺ1൅8%ሻ ൌ ሺ1൅ݎሻ ଵଶ ݎ ൌ .6434% 5% interest per year based on daily compounding Interest per year (effective) ൬1൅ 5% 252 ଶହଶ ൌ ሺ1 ൅ ݎሻ ݎ ൌ 5.1266% 3% interest per year, with quarterly compounding Continuously compounding interest rate per year
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