Asked by Thara!
Given Interest Rate
3.75% Compounded Quarterly
Equivalent Interest Rate
_?_% Compounded Semi-annually
formula is: i2=(1+i)^(m2/m1) -1
the answer should be 3.77%.
i have alot of similar questions like this...but i need to know how to get that same answer. i tried using the same formula as,
i2=(1+.0375)^(4/2)
= 1.07640625 - 1
=0.07640625
its coming wrong...plz help!!!
3.75% Compounded Quarterly
Equivalent Interest Rate
_?_% Compounded Semi-annually
formula is: i2=(1+i)^(m2/m1) -1
the answer should be 3.77%.
i have alot of similar questions like this...but i need to know how to get that same answer. i tried using the same formula as,
i2=(1+.0375)^(4/2)
= 1.07640625 - 1
=0.07640625
its coming wrong...plz help!!!
Answers
Answered by
Thara!
oops...its (m1/m2)
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