Tanyamehta24 Tanyamehta24
  • 11-03-2017
  • Mathematics
contestada

what is the effective annual yield of an investment that offers a nominal rate of 5% compound monthly? Daily?

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Aliwohaish12
Aliwohaish12 Aliwohaish12
  • 11-03-2017
Monthly
R=(1+0.05/12)^12)-1)*100
R=5.12%
Daily
R=(1+0.05/360)^360)-1)*100
R=5.13%
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