Find the Effective Rate Corresponding to the Given Nominal Rate

question 75

Multiple Choice

Find the effective rate corresponding to the given nominal rate. Round your answers to three decimal places. ​
6% / year compounded monthly
​ _____%
​
6% / year compounded daily
​ _____%
​

• A) 6.183%, 6.136%
• B) 6.168%, 6.183%
• C) 6.136%, 6.000%
• D) 6.183%, 6.000%

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Definitions:

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An enzyme that catalyzes the transcription of DNA into RNA, initiating the transfer of genetic information.

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The amount of glucose present in the blood, important in the diagnosis and management of diabetes and other metabolic disorders.

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