Convert the given interest rates in the left-hand column into the nominal rates listed in the right-hand
Question:
Given Interest Rate Desired Interest Rate
1% per month ......... Nominal rate per year
3% per quarter ......... Nominal rate per 6 months
2% per quarter ......... Nominal rate per year
0.28% per week ....... Nominal rate per quarter
6.1% per 6 months ....... Nominal rate per 2 years
Nominal Rates
"Nominal interest rate refers to the interest rate before taking inflation into account. Nominal can also refer to the advertised or stated interest rate on a loan, without taking into account any fees or compounding of interest. The nominal...
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
Question Posted: