kaurmandeep0124 kaurmandeep0124

23-11-2019
Mathematics

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what is the nominal rate of interest compounded quarterly if the effective rate of interest on the investment is 5.3%.

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23-11-2019

Answer: 5.3% effective rate=5.20% comp. quarterly.

1.053^1/4=1.0129945 - 1=.0129945 X 4 X100=5.20%

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