Business Studies, asked by chobing879, 1 year ago

Calculate effective rate of interest for 15 months

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Answered by Anonymous

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Calculate the effective interest rate per period given the nominal interest rate per period and the number of compounding intervals per period. ... Example Effective Annual Interest Rate Calculation: Suppose you have an investment account with a "Stated Rate" of 7% compounded monthly ...

Answered by Anonymous

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✔✔✔Here,The effective annual interest rate is equal to 1 plus the nominal interest rate in percent divided by the number of compounding persiods per year n, to the power of n, minus 1.

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