SOLUTION: Find the effective rate of interest.
4.75% compounded quarterly
Algebra.Com
Question 420778: Find the effective rate of interest.
4.75% compounded quarterly
Answer by rfer(16322) (Show Source): You can put this solution on YOUR website!
(1+0.0475/4)^4-1
(1.011875)^4-1=0.0483528
4.83528%
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