Question: Carry out the interest rate conversions specified below. Use the built-in formulas =effect(...) and =nominal(...) for all conversions. Equivalent rates when compounded:. Compounding Frequency Annually
Carry out the interest rate conversions specified below. Use the built-in formulas =effect(...) and =nominal(...) for all conversions.
Equivalent rates when compounded:.
| Compounding Frequency | Annually | Semiannually | Quarterly | Monthly | Weekly | Daily | ||
| APR | m= | 1 | 2 | 4 | 12 | 52 | 365 | |
| Quarterly | 5.80% | 4 | ||||||
| Daily | 7.95% | 365 | ||||||
| Monthly | 13.14% | 12 | ||||||
| Semiannually | 8.75% | 2 | ||||||
| Weekly | 1.77% | 52 |
Please ADD EXCEL FUNCTIONS!
Thanks for the help :)
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