Question

The effective rate of interest corresponding to a nominal rate 3% p.a payable half yearly is
(a) 3.2% p.a
(b) 3.25% p.a
(c) 3.0225% p.a
(d) none of these​

Answer 1

Answer:

3.2%

p.a

Step-by-step explanation:

The effective rate of interest corresponding to a nominal rate 3% p.a payable half yearly is. 3.2% p.a.