SOLUTION: You deposit $1,500 in the bank today. After 5 years, you are able to withdraw $2,163.48.
(a) What Effective Annual Return (EAR) did you earn?
(b) Assuming continuous compounding,
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(a) What Effective Annual Return (EAR) did you earn?
(b) Assuming continuous compounding,
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Question 729311: You deposit $1,500 in the bank today. After 5 years, you are able to withdraw $2,163.48.
(a) What Effective Annual Return (EAR) did you earn?
(b) Assuming continuous compounding, what nominal interest rate did you earn? Answer by lynnlo(4176) (Show Source):
(