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9 January, 20:51

Periodic rate can be computed using this formula

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  1. 9 January, 20:56
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    Answer & Explanation:

    First, divide the nominal rate by the number of compounding periods. The result is the periodic rate. Now add this number to 1 and take the sum by the power of the number of compounding interest rates. Subtract 1 from the product to get the effective interest rate.
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