3 years ago

Can someone write an equation for me ?

1 answer:

sammy [17]3 years ago

4 0

The correct answer is f=(1/3)m

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Ede4ka [16]

Answer:

effective annual rate is 6.16 %

Step-by-step explanation:

given data

rate = 6 % = 0.06

time 5 year = 10 semi annually

to find out

effective annual rate

solution

we know formula for annual effective rate of interest is

rate of interest = $(1+ r/n)^{n}$ -1

put here all value

rate of interest = $(1+ 0.06/10)^{10}$ -1

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