Mike Long is computing the present value of a cash flow that comes in ten years. He knows the APR is 15%, but ignores the fact that the rate compound continuously. How much higher will his estimate be...

Mike Long is computing the present value of a cash flow that comes in ten years. He knows the APR is 15%, but ignores the fact that the rate compound continuously. How much higher will his estimate be than the correct value?11% too high, 8% too high, 5% too high, the same, of none of these