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The effective annual rate of interest corresponding to a nominal rate of 6% per annum payable half-yearly is: ?->(Show Answer!)
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1. The effective annual rate of interest corresponding to a nominal rate of 6% per annum payable half-yearly is:





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  • By: guest on 01 Jun 2017 05.46 pm
    Amount of Rs. 100 for 1 year
    when compounded half-yearly = Rs. 100 x 1 + 3 2 = Rs. 106.09 100 Effective rate = (106.09 - 100)% = 6.09%
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