If the sum of P12,000.00 is deposited in an account earning interest rate of 9% compounded quarterly, a.) what will it become after 1 year? b.) what is the effective rate? c.) What is then the equivalent nominal interest rate if compounded monthly?
If the sum of P12,000.00 is deposited in an account earning interest rate of 9% compounded quarterly, a.) what will it become after 1 year? b.) what is the effective rate? c.) What is then the equivalent nominal interest rate if compounded monthly?
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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