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28 July, 19:17

what is the nominal rate of interest compounded quarterly if the effective rate of interest on the investment is 5.3%.

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  1. 28 July, 22:30
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    Answer: 5.3% effective rate=5.20% comp. quarterly.

    1.053^1/4=1.0129945 - 1=.0129945 X 4 X100=5.20%
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