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Title: A bank pays a quoted annual (nominal) interest rate of 8%. However, it pays interest (compounded) ... Post by: tetleyelmo on Jan 13, 2017 A bank pays a quoted annual (nominal) interest rate of 8%. However, it pays interest (compounded) daily using a 365-day year. What is the effective annual rate of return?
A) 7.86% B) 7.54% C) 8.57% D) 8.33% E) 9.21% Title: Re: A bank pays a quoted annual (nominal) interest rate of 8%. However, it pays interest ... Post by: Blimp on Jan 17, 2017 Content hidden
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