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ikrabbe ikrabbe
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6 years ago
Calculate the nominal annual rate of interest compounded quarterly that is equivalent to 10% p.a. compounded semi-annually.
Textbook 
Contemporary Business Mathematics with Canadian Applications

Contemporary Business Mathematics with Canadian Applications


Edition: 11th
Authors:
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wrote...
6 years ago
=   = 0.05
  = 
1 + i = 
1 + i = 1.024695077
i = 0.024695077 × 4 × 100% = 9.878%
i = 9.878%

Programmed solution:
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