Find the effective rate corresponding to the given nominal rate. (Round your answers to three decimal places.) (a) 8%/year compounded semiannually ________% (b) 9%/year compounded quarterly _________%
Find the effective rate corresponding to the given nominal rate. (Round your answers to three decimal places.) (a) 8%/year compounded semiannually ________% (b) 9%/year compounded quarterly _________%
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter7: Exponents And Exponential Functions
Section: Chapter Questions
Problem 35PT
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Question
Find the effective rate corresponding to the given nominal rate. (Round your answers to three decimal places.)
(a)
8%/year compounded semiannually
________%
(b)
9%/year compounded quarterly
_________%
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