he quoted annual interest rate compounded weekly, which is equivalent to a stated rate of 12% with monthly compounding, is about:
Question 20 options:
Not enough information. |
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13.81% |
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18.26% |
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13.00% |
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11.95% |
rate positively ..
First we have to compute the monthly compuding into EAR | |||||
EAR = | (1+12%/12)^12-1 | ||||
12.68% | |||||
Annual rate compouding weekely = | |||||
Weekly eq rate = | ((1+12.68%)^(1/52)-1)*52 | ||||
11.95% | |||||
Ans = | 11.95% | ||||
he quoted annual interest rate compounded weekly, which is equivalent to a stated rate of 12%...
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