Mr smith plans to deposit money in a bank that pays 10% interest per year, compounded...

Mr smith plans to deposit money in a bank that pays 10% interest per year, compounded daily. what the effective rate of interest will he receive (a) yearly, (b) semiannually? Answers (a) 10.515% (b) 5.0625%

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samet mamat answered 2 years ago

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