How do I find the periodic interest rate for the following? Compute the periodic interest rate, as a decimal, given a nominal interest rate and compounding period.Roundyour answers to four decimal places.a. 13.63%, monthlyPeriodic Interest Rate (as a decimal) =b. 6.97%, weeklyPeriodic Interest Rate (as a decimal)c. 5.77%, dailyPeriodic Interest Rate (as a decimal)

Interest: Interest is the amount of interest paid on the issue price of the notes by the issuer at…

Compute the periodic interest rate, as a decimal, given a nominal interest rate and compounding period. your answers to four decimal places. Round a. 13.63%, monthly Periodic Interest Rate (as a decimal) b. 6.97%, weekly Periodic Interest Rate (as a decimal) c. 5.77%, daily

Compute the periodic interest rate, as a decimal, given a nominal interest rate and compounding period. your answers to four decimal places. Round a. 13.63%, monthly Periodic Interest Rate (as a decimal) b. 6.97%, weekly Periodic Interest Rate (as a decimal) c. 5.77%, daily

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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How do I find the periodic interest rate for the following?

Compute the periodic interest rate, as a decimal, given a nominal interest rate and compounding period.
Round
your answers to four decimal places.
a. 13.63%, monthly
Periodic Interest Rate (as a decimal) =
b. 6.97%, weekly
Periodic Interest Rate (as a decimal)
c. 5.77%, daily
Periodic Interest Rate (as a decimal)

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