Questions
Single choice
If the nominal per annum interest rate is 6%, then the interest rate per quarter is:
Options
A.a. 1.5%
B.b. 24%
C.c. 6%
D.d. 3%
View Explanation
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Step-by-Step Analysis
To assess the quarterly interest rate from a nominal annual rate, we divide the annual rate by the number of quarters in a year.
Option a. 1.5%: This matches 6% per year divided......Login to view full explanationLog in for full answers
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Similar Questions
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