If a bank offers interest at a nominal rate of 6%, how much greater is the effective rate if interest is compounded continuously than if the compounding is quarterly?
I don't get this question at all... All I'm given is the rate and how am I suppose to compare compounded continuously and quarterly if I'm not given the initial value, time and so on...
I don't get this question at all... All I'm given is the rate and how am I suppose to compare compounded continuously and quarterly if I'm not given the initial value, time and so on...