taylormampa taylormampa

16-07-2021
Mathematics

contestada

le: Convert an interest rate of 12% p.a. compounded monthly to an interest
rate compounded quarterly.

Respuesta :

sqdancefan sqdancefan

18-07-2021

9514 1404 393

Answer:

12.1204%

Step-by-step explanation:

The nominal annual rate is 4 times the effective quarterly rate:

(1 +0.12/12)^3 = 1.030301

so the effective quarterly rate is 3.0301%.

The equivalent annual rate compounded quarterly is 12.1204%.

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