SOLUTION: If two rates, r1 compounded m1 times a year and r2 compounded m2 times per year are to be equivalent, find the interest rate compounded quarterly which is equivalent to 10% interes

Question 1140633: If two rates, r1 compounded m1 times a year and r2 compounded m2 times per year are to be equivalent, find the interest rate compounded quarterly which is equivalent to 10% interest rate compounded annually. Thank you so much.
Answer by ikleyn(52792) (Show Source): You can put this solution on YOUR website!
.

In this post, the fragment

    "If two rates, r1 compounded m1 times a year and r2 compounded m2 times per year are to be equivalent,"

does not function and should be deleted.

RELATED QUESTIONS
Find the amount to which $3700 will grow if deposited in a bank at 5.29% interest... (answered by Fombitz)

Prove that for perpendicular lines, if the gradient of the two lines are m1 and m2, then... (answered by math_helper,math_tutor2020)

Find how much money needs to be deposited now into a account to obtain $3900 and 12... (answered by ikleyn)

You are tasked with assisting a young couple in purchasing a home. The couple wants to... (answered by Theo,ikleyn)

1)If the sum of the areas of two circles with radii r1 and r2 is equal to the area of a... (answered by edjones)

"Question 16 Sam plans to buy a car for R125 000. He pays a 15% deposit and manages to... (answered by Theo)

The formula A = 𝑃 (1 +𝑟𝑛)𝑛𝑡 is used to determine (answered by Alan3354)

Which of the given interest rates and compounding periods would provide the better... (answered by stanbon,venugopalramana)

Which of the given interest rates and compounding periods would provide the best... (answered by jrfrunner)