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Find the interest rates in the following situations. a. APR = 8%, compounded quarterly. Find the effective annual interest rate. b. Nominal rate is 11%
Find the interest rates in the following situations. a. APR = 8%, compounded quarterly. Find the effective annual interest rate. b. Nominal rate is 11% compounded monthly. Find the effective semi-annual rate. c. The effective annual interest rate is 17.73% and compounding is monthly. Find the nominal interest rate. d. r= 5% and compounding is quarterly. Find the effective semi-annual interest rate. a. The effective annual interest rate is 8.2% (Round to one decimal place.) b. The effective semi-annual rate is 11.3% (Round to one decimal place.) c. The nominal interest rate is 16.4%. (Round to one decimal place.) d. The effective quarterly interest rate is 5.0%. (Round to one decimal place.)
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