crystalmessenge crystalmessenge

02-02-2017
Mathematics

contestada

Wyatt is paying back a loan with a nominal interest rate of 13.62%. If the interest is compounded quarterly, how much greater is Wyatt’s effective interest rate than his nominal interest rate
The correct answer is
D.0.71 percent points

Respuesta :

Aliwohaish12 Aliwohaish12

04-02-2017

R=(1+i/m)^m)-1
R=(1+0.1362/4)^4)-1=0.1433*100=14.33%
So 14.33%-13.62%=0.71

Answer Link

artemmcdougal862 artemmcdougal862

20-04-2021

Answer:

D- 0.71

Step-by-step explanation:

EDGE 2021

Answer Link

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