P piper New member Joined Mar 14, 2010 Messages 1 Mar 14, 2010 #1 Please help me with these two problems! Find the effective annual interest rate of 7% compounded quarterly. Round answer to nearest 0.01% Find the effective interest rate of 11% compounded monthly. Round ans to nearest 0.01%
Please help me with these two problems! Find the effective annual interest rate of 7% compounded quarterly. Round answer to nearest 0.01% Find the effective interest rate of 11% compounded monthly. Round ans to nearest 0.01%
D Denis Senior Member Joined Feb 17, 2004 Messages 1,700 Mar 14, 2010 #2 piper said: > Find the effective annual interest rate of 7% compounded quarterly. Round answer to nearest 0.01% (1 + .07/4)^4 - 1 > Find the effective interest rate of 11% compounded monthly. Round ans to nearest 0.01% (1 + .11/12)^12 - 1 Click to expand...
piper said: > Find the effective annual interest rate of 7% compounded quarterly. Round answer to nearest 0.01% (1 + .07/4)^4 - 1 > Find the effective interest rate of 11% compounded monthly. Round ans to nearest 0.01% (1 + .11/12)^12 - 1 Click to expand...
