Find the effective rate corresponding to the given nominal rate. Round your answers to the nearest hundredth.

10% / year compounded semiannually
__________%

3% / year compounded quarterly
__________%

Question

Find the effective rate corresponding to the given nominal rate. Round your answers to the nearest hundredth.
​
10% / year compounded semiannually
​  __________%
​
3% / year compounded quarterly
​  __________%

Quizplus · Accepted Answer

The Answer of Find the effective rate corresponding to the given nominal rate. Round your answers to the nearest hundredth.
​
10% / year compounded semiannually
​  __________%
​
3% / year compounded quarterly
​  __________%

Find the Effective Rate Corresponding to the Given Nominal Rate