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Masuma Shuchi1 Masuma Shuchi1
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3 years ago
For a given interest rate of 10% compounded quarterly, what is the equivalent nominal rate of interest with monthly compounding?
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#1
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3 years ago
APR(quarterly) = 10.00%

APR(monthly) = 12[(1 + 0.10/4)1/3 - 1]

APR(monthly) = 9.918%
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