Question: 2 Convert 5.86% compounded semi-annually to an equivalent interest rate compounded quarterly. Round EFF to four decimal places, round NOM (2) to two decimal places.

Convert 5.86% compounded semi-annually to an equivalent interest rate compounded quarterly. Round EFF to four decimal places, round NOM (2) to two decimal places. C/Y (1) NOM (1) % = EFF 7% (4 decimal places) NOM (2) C/Y (2) = 11 % 11 11

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