Provide answers in the form of a percentage to three decimal places . (a).What is the effective annual interest rate of a 4 % nominal annual interest rate compounded daily .  (b).What is the effective annual interest rate of a 2 % nominal annual interest rate compounded weekly ?  (c).What is the effective annual interest rate of a 7 % nominal annual interest rate quarterly ?

Economics Today and Tomorrow, Student Edition
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Chapter6: Saving And Investing
Section6.1: Why Save?
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Provide answers in the form of a percentage to three decimal places .

(a).What is the effective annual interest rate of a 4 % nominal annual interest rate compounded daily . 

(b).What is the effective annual interest rate of a 2 % nominal annual interest rate compounded weekly ? 

(c).What is the effective annual interest rate of a 7 % nominal annual interest rate quarterly ? 

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