What is the quarterly effective rate equivalent to a nominal rate of 200% p.a. capitalized monthly?

EBK CFIN
6th Edition
ISBN:9781337671743
Author:BESLEY
Publisher:BESLEY
Chapter4: Time Value Of Money
Section: Chapter Questions
Problem 15PROB
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26- What is the quarterly effective rate equivalent to a nominal rate of 200% p.a. capitalized monthly?

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