The effective interest rate of 15% (change number) interest rate compounded quarterly is: Selected Answer: 15.87%...

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Question

The effective interest rate of 15% (change number) interest rate compounded quarterly is:

business finance

Answer 1

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Answer #1

EAR = (1+APR:n)^n-1 n is number of compounding per year Effective annual rate 15.87% =(1+15%/4)^4-1

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Answer 2

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