What is the effective rate of interest for five year

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Reference no: EM132059723

A worker makes bi-weekly (i.e., once every two weeks) deposits of $50 to a back account that earns 3% interest compunded continueously. Assume 52 weeks in a year.

a. After 5 years, what amount of money can be withdrawn from the account?

b. What is the effective rate of interest for 5 year?

c. What is the nomial rate of interest for 5 year?

Reference no: EM132059723

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