A bank announces that it has changed its interest, Ask an Expert

Economics

A bank announces that it has changed its interest computation method to continuous compounding. Now $2000 left in the bank for 9 years will double to $4000.
What is the nominal interest rate, compounded continuously, is the bank paying?
What effective interest is it paying?

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Macroeconomics, Economics

Category:- Macroeconomics
Reference No.:- M9479411

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