Asked by Haroon Gondal
Compute effective rate of interest where nominal rate is 8% compounded quarterly?
Answers
Answered by
Ms. Sue
Jiskha's tutors answer very few homework dumping questions.
Answered by
Rakab Javed
Effective rate = (1+r/4)^4 -1
= (1+0.08/4)^4-1
=(1.02)^4-1
= 16.98%
= (1+0.08/4)^4-1
=(1.02)^4-1
= 16.98%
Answered by
Anonymous
5rugjh
Answered by
Daniel
8.30 %
There are no AI answers yet. The ability to request AI answers is coming soon!
Submit Your Answer
We prioritize human answers over AI answers.
If you are human, and you can answer this question, please submit your answer.