Convert the given interest rates in the left-hand column into the nominal rates listed in the right-hand

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Convert the given interest rates in the left-hand column into the nominal rates listed in the right-hand column. (Assume 4 weeks/month.)
Given Interest Rate Desired Interest Rate
1% per month ......... Nominal rate per year
3% per quarter ......... Nominal rate per 6 months
2% per quarter ......... Nominal rate per year
0.28% per week ....... Nominal rate per quarter
6.1% per 6 months ....... Nominal rate per 2 years

Nominal Rates
"Nominal interest rate refers to the interest rate before taking inflation into account. Nominal can also refer to the advertised or stated interest rate on a loan, without taking into account any fees or compounding of interest. The nominal...
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Engineering economy

ISBN: 978-0073376301

7th Edition

Authors: Leland Blank, Anthony Tarquin

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