Answer:
6% monthly
Step-by-step explanation:
The monthly rate being compounded when the interest is 6% per year is ...
6%/12 = 0.5%
so the multiplier each month is
1 + 0.5% = 1.005
___
The monthly multiplier when 5.86% is compounded continuously is ...
e^(5.86%/12) ≈ 1.004895
The 6% rate will give a larger yield after any length of time.
Substitute the value of x in equation 2. Then you'll get y=3. Then again substitute the value of y in x=1+y, you'll get x=4
Step-by-step explanation:
2.5<x<8.0???????????
