What effective rate is equivalent to a nominal rate of 6-% compounded quarterly? 4 Select one: O 6.59 % O 8.66 % O 1.52 % 6.92 %

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
3
What effective rate is equivalent to a nominal rate of 6-% compounded quarterly?
4
Select one:
O 6.59 %
O 8.66 %
1.52 %
6.92 %
Transcribed Image Text:3 What effective rate is equivalent to a nominal rate of 6-% compounded quarterly? 4 Select one: O 6.59 % O 8.66 % 1.52 % 6.92 %
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