If the value of $1 is 1.082431 in one year at 8 % compounded quarterly, what is the effective interest rate?

Question

(a)82.4% (b)8% (c)0.824% (d)8.24% (e)824.31%

Answer 1

Mathew -- and all of the rest of your pseudonyms -- you must be having an identity crisis.

Please use the same name for all of your posts.