Construct a spreadsheet to convert a nominal interest rate compounded m times per year i (m) and convert it to an effective rate j n per 1 n of a year On the same spreadsheet, also start with an effective rate j m per 1 m of a year and convert it to a nominal rate i (n) compounded n times per year Use your spreadsheet to solve the following two problems Given the nominal rate i (2) 6 275 , find the equivalent effective monthly rate Given the effective monthly rate j 12 0 516 , find the equivalent nominal rate i (2)

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Question: Construct a spreadsheet to convert a nominal interest rate compounded m times per year i (m) and convert it to an effective rate j n

Construct a spreadsheet to convert a nominal interest rate compounded m times per year i^(m) and convert it to an effective rate j_n per 1/n of a year. On the same spreadsheet, also start with an effective rate j_m per 1/m of a year and convert it to a nominal rate i⁽ⁿ⁾ compounded n times per year. Use your spreadsheet to solve the following two problems:

Given the nominal rate i⁽²⁾ = 6.275%, find the equivalent effective monthly rate.

Given the effective monthly rate j₁₂ = 0.516%, find the equivalent nominal rate i⁽²⁾.

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