Question: note: may you please solve and explain with using formulas 6. (i) Express 5% pa effective interest as a nominal annual interest rate convertible quarterly.

note: may you please solve and explain with using formulas

6. (i) Express 5% pa effective interest as a nominal annual interest rate convertible quarterly. (ii) Find the annual effective interest rate equivalent to a nominal interest rate of 12% pa convertible four-monthly

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