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!
Answer:
The forth one:No,the addition symbol was dropped in the second expression
Step-by-step explanation:
I took the quiz and got it right
Answer:
25
Step-by-step explanation:
2400 dived by 96 is 25
The answer would be A i hope this helped
