Question:
The expression for computing the effective interest rate (ieff) using continuous compounding for a nominal interest rate of 5% is
\(i_{eff}=\lim\limits_{m\rightarrow\infin}(1+\frac{0.05}{m})^m-1\)
The effective interest rate (in percentage) is ________ (rounded off to 2 decimal places).
The expression for computing the effective interest rate (ieff) using continuous compounding for a nominal interest rate of 5% is
\(i_{eff}=\lim\limits_{m\rightarrow\infin}(1+\frac{0.05}{m})^m-1\)
The effective interest rate (in percentage) is ________ (rounded off to 2 decimal places).
\(i_{eff}=\lim\limits_{m\rightarrow\infin}(1+\frac{0.05}{m})^m-1\)
The effective interest rate (in percentage) is ________ (rounded off to 2 decimal places).
Updated On: Jul 18, 2024
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Correct Answer: 5.11
Solution and Explanation
The correct answer is 5.11 to 5.15 (approx)
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