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5. The annual interest rate convertible monthiy is 15%. Calculate the equivalent two-yaat effective interest rate fivi. a. ri/2=11.72% b. r2R=17.36% c. 12/2=19.45% d. r1/2=15.25%

5. The annual interest rate convertible monthiy is 15%. Calculate the equivalent two-yaat effective interest rate fivi. a. ri/2=11.72% b. r2R=17.36% c. 12/2=19.45% d. r1/2=15.25% e. f122=14.23% Solution

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