Not use excel Find the nominal annual rate of interest compounded quarterly that is equivalent to 4.8% compounded semi-annually.The nominal annually compounded rate of interest is%.(Round the final answer to four decimal places as needed. Round all intermediate values to six decimal places as needed.)

Nominal rate of interest is provided by Banks. It is a rate that considers inflation. Compounding…

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Find the nominal annual rate of interest compounded quarterly

Financial Accounting: The Impact on Decision Makers

10th Edition

ISBN:9781305654174

Author:Gary A. Porter, Curtis L. Norton

Publisher:Gary A. Porter, Curtis L. Norton

Chapter9: Current Liabilities, Contingencies, And The Time Value Of Money

Section: Chapter Questions

Problem 9.12E

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Not use excel

Find the nominal annual rate of interest compounded quarterly that is equivalent to 4.8% compounded semi-annually.
The nominal annually compounded rate of interest is
%.
(Round the final answer to four decimal places as needed. Round all intermediate values to six decimal places as needed.)

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