Tanyamehta24 Tanyamehta24

11-03-2017
Mathematics

Answered

what is the effective annual yield of an investment that offers a nominal rate of 5% compound monthly? Daily?

Verified Answer :

Aliwohaish12 Aliwohaish12

11-03-2017

Monthly
R=(1+0.05/12)^12)-1)100
R=5.12%
Daily
R=(1+0.05/360)^360)-1)100
R=5.13%

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