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Engineering Economy 7th Edition by Leland Blank ,Anthony Tarquin
Edition 7ISBN: 978-0073376301Engineering Economy 7th Edition by Leland Blank ,Anthony Tarquin
Edition 7ISBN: 978-0073376301 Exercise 11
Identify the compounding period for the following interest statements:
a) 3% per quarter; b) 10% per year, compounded semiannually; c) nominal 7.2% per year, compounded monthly; d) effective 3.4% per quarter, compounded weekly; and e) 2% per month, compounded continuously.
a) 3% per quarter; b) 10% per year, compounded semiannually; c) nominal 7.2% per year, compounded monthly; d) effective 3.4% per quarter, compounded weekly; and e) 2% per month, compounded continuously.
Explanation
Verified
Verified
a.
Per quarter:
Since interest is calc...
Engineering Economy 7th Edition by Leland Blank ,Anthony Tarquin
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