Ask Question
25 November, 15:16

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

+3
Answers (1)
  1. 25 November, 15:27
    0
    Answer: 5.3% effective rate=5.20% comp. quarterly.

    1.053^1/4=1.0129945 - 1=.0129945 X 4 X100=5.20%
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “what is the nominal rate of interest compounded quarterly if the effective rate of interest on the investment is 5.3%. ...” in 📗 Mathematics if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers