Convert 5.81% compounded semi-annually to an equivalent interest rate compounded monthly. Round EFF to four decimal places, round NOM (2) to two decimal places. NOM (1) = NOM (2) = % EFF = % (4 decimal places) C/Y (1) C/Y (2) ||

Convert 5.81% compounded semi-annually to an equivalent interest rate compounded monthly. Round EFF to four decimal places, round NOM (2) to two decimal places. NOM (1) = NOM (2) = % EFF = % (4 decimal places) C/Y (1) C/Y (2) ||

EBK CFIN

6th Edition

ISBN:9781337671743

Author:BESLEY

Publisher:BESLEY

Chapter4: Time Value Of Money

Section: Chapter Questions

Problem 22PROB

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Concept explainers

Effective Interest Rate

The term interest rate can be defined as the amount that is charged by the lender as a percentage on the principal amount. Interest rate which is charged annually is known as annual percentage rate.

Question

answer please lol!

Convert 5.81% compounded semi-annually to an equivalent interest rate
compounded monthly. Round EFF to four decimal places, round NOM (2) to two
decimal places.
NOM (1)
NOM (2)
=
%
%
EFF
II
%
(4 decimal places)
C/Y (1)
C/Y (2)
=

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