You are going to loan a friend 6000 for one year at an, Ask an Expert

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You are going to loan a friend $6,000 for one year at an interest rate of 4.5 percent, compounded annually. How much additional interest could you have earned if you had compounded the rate continuously rather than annually?

A) $6.10

B) $5.84

C) $.6.17

D) $6.28

E) $5.93

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92296346

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