Question: Question 6 7 1 pts FIN 3 7 0 - 4 0 0 6 / Your bank account pays an 8 % nominal rate of

Question 67
1 pts
FIN370-4006/ Your bank account pays an 8% nominal rate of interest. The interest is compounded quarterly. Which of the following statements is CORRECT?
The periodic rate of interest is 8% and the effective rate of interest is greater than 8%.
The periodic rate of interest is 4% and the effective rate of interest is less than 8%.
The periodic rate of interest is 8% and the effective rate of interest is also 8%.
The periodic rate of interest is 2% and the effective rate of interest is greater than 8%.
The periodic rate of interest is 2% and the effective rate of interest is 4%.
MacBook Air .
Question 6 7 1 pts FIN 3 7 0 - 4 0 0 6 / Your

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