Given That the Effective Rate Is 9%,determine the Interest Rate

question 178

Short Answer

Given that the effective rate is 9%,determine the interest rate r which is compounded continuously to give an effective rate of 9%.

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Definitions:

Mole

A unit in chemistry used to express amounts of a chemical substance, defined as containing exactly 6.02214076×10²³ particles, such as atoms or molecules.

S Atoms

Sulfur atoms, which are nonmetallic elements with the atomic number 16 known for their yellow crystals and role in biological systems.

Mass

A measure of the amount of matter in an object, typically in kilograms or grams, independent of its volume or any forces acting on it.

Mole

A basic unit of measure in chemistry that represents a quantity of chemical substance containing approximately 6.022 x 10^23 particles, atoms, molecules, ions or electrons.