Finance/effective fortnightly rate

[Sydney_m_30]

How do I convert to effective fortnightly rate.

ie) Jess’s bank account pays interest at 3.6% p.a. compounding semi-annually.
Determine the equivalent effective fortnightly rate for Jess’s account

 

[Deleted member 4993]

How do I convert to effective fortnightly rate.

ie) Jess’s bank account pays interest at 3.6% p.a. compounding semi-annually.
Determine the equivalent effective fortnightly rate for Jess’s account

1 year = 52 weeks = 26 fortnight

 

[jonah2.0]

Beer soaked hint follow.

How do I convert to effective fortnightly rate.

ie) Jess’s bank account pays interest at 3.6% p.a. compounding semi-annually.
Determine the equivalent effective fortnightly rate for Jess’s account

A dollar invested for one year at 3.6% compounded semi-annually is `1(1+.036/2)^(1*2)`

A dollar invested for one year at `j_26` compounded fortnightly is `1(1+j_26/26)^(1*26)`
Can you see the connection?