<PRE><B>Question 980286</B>
You are given a nominal rate for an account.
 Find the continuous growth rate that has the same APY.
 5.5% nominal rate compounded monthly
:
Find the APY of 5.5% compounded monthly 
APY = (1+{{{.055/12}}})^12 - 1
APY = .0564, which is 5.64% 
:
the continuous growth rate of 5.5% is about the same
e^.055 - 1 = .0565 which is 5.65%
:
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