What rate of interest compounded annually is the same as the rate of interest of 6% compounded semiannually? a. 5.29% 6.09% c. b. 6.192% d. 6.02%

Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter9: Metric-analysis Of Financial Statements
Section: Chapter Questions
Problem 3SEQ
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What rate of interest compounded
annually is the same as the rate of
interest
of
6%
compounded
semiannually?
a. 5.29%
6.09%
c.
b. 6.192%
d. 6.02%
Transcribed Image Text:What rate of interest compounded annually is the same as the rate of interest of 6% compounded semiannually? a. 5.29% 6.09% c. b. 6.192% d. 6.02%
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