An APR of 5.875 produces an effective annual interest rate of 6.04% what is the compounding frequency in this situation? i = (1 + r / m) ^ m - 1 0.0604 = (1+0.05875/m)"-1
An APR of 5.875 produces an effective annual interest rate of 6.04% what is the compounding frequency in this situation? i = (1 + r / m) ^ m - 1 0.0604 = (1+0.05875/m)"-1
Intermediate Algebra
10th Edition
ISBN:9781285195728
Author:Jerome E. Kaufmann, Karen L. Schwitters
Publisher:Jerome E. Kaufmann, Karen L. Schwitters
Chapter11: Exponential And Logarithmic Functions
Section11.CR: Review Problem Set
Problem 56CR
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An APR of 5.875 produces an effective annual interest rate of 6.04% what is the compounding frequency in this situation?
i = (1 + r / m) ^ m - 1 0.0604 = (1+0.05875/m)"-1
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