An interest rate of 18% per year, compounded conÂtinuously, is closest to an effective:
(a) 1.51% per quarter
(b) 4.5% per quarter
(c) 4.6% per quarter
(d) 9% per 6 months
Calculate quarterly and semiannual rates to determine correct answer
i/quarter = e^0.045 -1 = 0.0460 (4.60%)
i/6-mths = e^0.09-1 = 0.0942 (9.42%)
Answer is (c)
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