If the nominal rate is 16.5% per year compounded quarterly, what is the equivalent effective rate of interesta) per yearb) per semiannualc) per bi monthd) per week (assuming there are 4 weeks in a month)c) per three yearsUse the editor to format your answer

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Answered: If the nominal rate is 16.5% per year…

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter5: The Time Value Of Money

Section: Chapter Questions

Problem 31P

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If the nominal rate is 16.5% per year compounded quarterly, what is the equivalent effective rate of interest a) per year b) per semiannual c) per bi month d) per week (assuming there are 4 weeks in a month) c) per three years Use the editor to format your answer