What is the effective rate when the nominal rate, r, is 2% and interest is compounded monthly

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What is the effective rate when the nominal rate, r, is 2% and interest is compounded monthly (n = 12)?

It would be: effective (to two decimal places).

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Introductory Econometrics For Finance

ISBN: 9781108436823

4th Edition

Authors: Chris Brooks

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Question Posted: Jul 23, 2024 11:01 AM

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What is the effective rate when the nominal rate, r, is 2% and interest is compounded monthly

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Introductory Econometrics For Finance

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