Question
A bank offers 8.00% on savings accounts. What is the effective annual rate if interest is compounded semi-annually? Answer format: Percentage Round to: 4 decimal
A bank offers 8.00% on savings accounts. What is the effective annual rate if interest is compounded semi-annually?
Answer format: Percentage Round to: 4 decimal places (Example: 9.2434%, % sign required. Will accept decimal format rounded to 6 decimal places (ex: 0.092434))
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Money Banking And Financial Markets
Authors: Stephen Cecchetti, Kermit Schoenholtz
6th Edition
1260226786, 9781260226782
