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A bank advertises mortgages at 12% compounded continuously. What is the effective annual interest?
12.36%
12.55%
12.75%
12.68%
12.68%
Practice and solve "A bank advertises mortgages at 12% compounded continuously. What is the effective annual interest?..." for Electrical - Economics for Engineers. The correct answer is Option D: 12.68%. Detailed step-by-step solution, conceptual clarity, and formulas on Examoogle.
Option **(d) **