Find the effective rate corresponding to the given nominal rate. Round your answers to the nearest thousandth.
8% / year compounded monthly __________ %
8% / year compounded daily __________ %

Question

Find the effective rate corresponding to the given nominal rate. Round your answers to the nearest thousandth.
8% / year compounded monthly  __________ %
8% / year compounded daily  __________ %

Quizplus · Accepted Answer

The Answer of Find the effective rate corresponding to the given nominal rate. Round your answers to the nearest thousandth.
8% / year compounded monthly  __________ %
8% / year compounded daily  __________ %

Find the Effective Rate Corresponding to the Given Nominal Rate