Accountancy, asked by simranbhalla539, 10 months ago

find the effective rate that is equivalent to a nominal rate of 12% compounded monthly.

Answers

Answered by Anonymous

Answer:

Plugging in our EAR of 6.09% and our n (number of periods) as 12, we get an equivalent nominal rate of 5.926%, or . 493862% per month (simply divide by 12). In other words, if a stated annual rate of 5.926% is compounded monthly then it equals an effective annual rate of 6.09%.

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