Whoops! In Exercise 11, just as Juanita was about to leave the house for her meeting, her…

Whoops! In Exercise 11, just as Juanita was about to leave the house for her meeting, her husband, Enrique, learns of her plan and says he is “sure” that the account pays interest compounded continuously. Recompute both the nominal annual interest and effective annual interest, assuming continuous compounding

Exercise 11

Six years ago Juanita put Whoops! In Exercise 11, just as Juanita was about to leave the house for her meeting, her husband,...-12000 in a special bank account. Today, her account shows Whoops! In Exercise 11, just as Juanita was about to leave the house for her meeting, her husband,...-13425. She thinks that this is a good deal and would like to tell her friends about it tonight.The bank is already closed, however, and the only thing she is sure of is that the account pays interest compounded monthly. Compute the nominal annual interest and the effective annual interest for this account.

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