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Today at 9:16 PM
Mathematics

Answered

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

Answer :

Today at 9:20 PM

Answer: 5.3% effective rate=5.20% comp. quarterly.

1.053^1/4=1.0129945 - 1=.0129945 X 4 X100=5.20%

Step-by-step explanation:

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