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Compute effective rate of interest where nominal rate is 8% compounded quarterly?
9 years ago

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Ms. Sue
Jiskha's tutors answer very few homework dumping questions.
9 years ago
Rakab Javed
Effective rate = (1+r/4)^4 -1
= (1+0.08/4)^4-1

=(1.02)^4-1
= 16.98%
9 years ago
Anonymous
5rugjh
3 years ago
Daniel
8.30 %
3 years ago

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