Question: A bank pays 9.7% compounded semi annually on certain types of deposits, If interest is compounded quarterly, what nominal rate of interest will maintain the

A bank pays 9.7% compounded semi annually on certain types of deposits, If interest is compounded quarterly, what nominal rate of interest will maintain the same effective rate of interest?

A bank pays 9.7% compounded semi annually on certain types of deposits,

Round the final answer to four decimal places as needed. Round all intermediate values to six decimal places as needed

A bank pays 9.7% compounded semi-annually on certain types of deposits. If interest is compounded quarterly, what nominal rate of interest will maintain the same effective rate of interest? The nominal rate of interest is %. (Round the final answer to four decimal places as needed. Round all intermediate values to six decimal places as needed.)

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