What is effective interest rate

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Reference no: EM131959515

Joe invested $25,000 in an account that will draw 6.9% interest compounded quarterly for the next 10 years while Susan invests $25,000 in an account that will draw 6.8% interest compounded continuously over the next 10 years. Who will have the most money at the end of the 10 years?

What is the effective interest rate for 8% interest compounded daily?

Reference no: EM131959515

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