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Home Q & A Board Science-Related Homework Help Mathematics
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Lada Lada
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6 years ago
What is the nominal rate of interest compounded semi-annually that is equivalent to an effective rate of 8.25%
Textbook 
Contemporary Business Mathematics with Canadian Applications

Contemporary Business Mathematics with Canadian Applications


Edition: 11th
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josanjosan
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6 years ago
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More solutions for this book are available here
i = (1+ 0.0825)0.5 - 1 = 1.0404326 - 1 = 0 .0404326
The nominal annual rate is 0 .0404326 × 2 × 100% = 8.08652% = 8.09%.
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Lada Author
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6 years ago
Thanks
jblazah
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Yesterday
Just got PERFECT on my quiz
Kstan109
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2 hours ago
Good timing, thanks!
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