SOLUTION: Calculate the APR for a 6% per annum nominal rate of interest compounded 20 times annually.

SOLUTION: Calculate the APR for a 6% per annum nominal rate of interest compounded 20 times annually.

Algebra.Com

Question 1072571: Calculate the APR for a 6% per annum nominal rate of interest compounded 20 times annually.
Answer by Boreal(15235) (Show Source): You can put this solution on YOUR website!
(1+(.06/20))=1.003^20=1.0617
6.17%
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