After reviewing the compounding model your kindergartener has a follow-up question about effective annual rates. She figures with more frequent compounding the effective annual rate cannot be 3% for all the compounding options. Calculate the effective annual rate for each of the compounding options using a function. Round three decimal places. Annual at 3% Semi-annual at 3.022% Quarterly at 3.034% Monthly at 3.042%
After reviewing the compounding model your kindergartener has a follow-up question about effective annual rates. She figures with more frequent compounding the effective annual rate cannot be 3% for all the compounding options. Calculate the effective annual rate for each of the compounding options using a function. Round three decimal places. Annual at 3% Semi-annual at 3.022% Quarterly at 3.034% Monthly at 3.042%
Chapter13: Investment Fundamentals
Section: Chapter Questions
Problem 3DTM
Question
After reviewing the compounding model your kindergartener has a follow-up question about effective annual rates. She figures with more frequent compounding the effective annual rate cannot be 3% for all the compounding options. Calculate the effective annual rate for each of the compounding options using a function. Round three decimal places.
Annual at 3%
Semi-annual at 3.022%
Quarterly at 3.034%
Monthly at 3.042%
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