Asked by Haroon Gondal

Compute effective rate of interest where nominal rate is 8% compounded quarterly?
Answered by Ms. Sue
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Answered by Rakab Javed
Effective rate = (1+r/4)^4 -1
= (1+0.08/4)^4-1

=(1.02)^4-1
= 16.98%
Answered by Anonymous
5rugjh
Answered by Daniel
8.30 %
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