Determine (within one basis point) the nominal annual interest rate (APR) compounded weekly which is equivalent...

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Answer 1

Answer #1

Number of weeks per year is taken at 52.

Nominal interest rate compounded weekly (which is equivalent to 7.3% compounded quarterly is 7.2 ascertained as follows

А C 1 Nominal rate with different compounding frequencies 2 Yearly Nominal Rate (R) Given 3 Compounding frequency Given 4 Tim

Answer 2

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