To find the effective interest rate the formula is
R=(1+r/k)^(k)-1
R=?
r=nominal Interest rate 0.1364
K=compounded daily 365
Plug in the formula
R=(1+0.1364÷365)^(365)−1
R=0.1461 This the effective interest rate 14.61%
As you can see that the effective interest rate is greater than the nominal interest rate by
0.1461−0.1364=0.0097×100=0.97%
So the answer is a
Hope it helps!
9514 1404 393
Answer:
4
Step-by-step explanation:
∛64 = ∛(4³) = 4
_____
The real root when the root index is odd will have the same sign as the value whose root it is. 64 is positive, so the real cube root will be positive.
