Question

ework #01 h: Next Page Page 10 of 10 Question 10 (1 point) (This question will require some thinking- we haven't learned how to solve this type of questions and it's hard to conceptualize the situation. You might want to tackle this question the last.) The nominal rate (APR) for a particular financial product is 7.85%, with continuous compounding, meaning that compounding never stops and the number of total compoundings is infinite in a year! what's the EFF% of this product? Note: keep only the percentage points with decimals. For example, if you answer is 9.95%, type "9.95" into the answer box, and the "96" into the unit box (not necessary) Your Answer: Answer units D View hint for Question 10

Answer 1

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File Home nert Page Layout Formulas Data Review View dd-Ins s Cut aCopy E AutoSum Calibri Wrap Text General ,_a. ars-函Merge & Center, $, % , 弼,8 C Paste B 1 u. Conditional Format CeInsert Delete Format Formatting as Table Styles2 Clear Sort &Find & Format Painter Clipboard Font Alignment Number Styles Cells Edting GP368 GO GP GQ GR GS GT GU GV GW GX GY 354 355 356 357 358 359 360 361 362 363 364 365 366 367 368 369 370 371 372 44M C NOMINAL RATE 7.85% EXCEL EFF (96)- 8.17% EXP(GR355*1)-1 (eAr) 1 (e^0.0785)-1 1.08166336-1 0.08166336 8.17% FORMULA EFF (96)- ANSWER 8.17 CALCULATOR LOAN OP TIONS pv, fv, annuity CAP STRU VALUE BOX DILUTION DOLLAR COST AVGMORTGAGE EXPO Sheeti Sheet2 ShelI rences: x261 04:10