A bank in a developing country pays 15% compounded continuously. A person has 10.000 local currency units on deposit and wishes to withd raw a constant amount each week so as 10 exhaust the account in two years. Assume 52 weeks in a year.
(a) What is the constant amount that has to be withdrawn each week?
(b) What is the nominal interest rate for a two-year period?
(c) What is the effective interest rate for a two-year period?
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