CHE374F – Quiz #1 Solution – 2009 Given Calculate Answer 8 % interest per year (effective) Monthly interest rate based on monthly compounding ሺ18%ሻ ൌ ሺ1ݎሻ ଵଶ ݎ ൌ .6434% 5% interest per year based on daily compounding Interest per year (effective) ൬1 5% 252 ൰ ଶହଶ ൌ ሺ1 ݎሻ ݎ ൌ 5.1266% 3% interest per year, with quarterly compounding Continuously compounding interest rate per year
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This note was uploaded on 10/18/2010 for the course ENGINEEIRI CHE374 taught by Professor Y.lawrynshyn during the Fall '09 term at University of Toronto.