Find the effective rate of interest corresponding to a nominal rate of 7%/year compounded annually, semiannually, quarterly, and monthly. (Round your answers to two decimal places.)
annually semiannually quarterly monthly
Find the effective rate of interest corresponding to a nominal rate of 7%/year compounded annually, semiannually, quarterly, and monthly. (Round your answers to two decimal places.)
annually semiannually quarterly monthly
using the formual of where n is the number of compounding periods;
Annual - 7%
Semiannual -
Quarterly -
Monthly -