document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=203568>Question 203568</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Can someone please help me with this problem:\r<BR>\n" );
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document.write( "Find the effective rate corresponding to the given nominal rate. Round results to the nearest 0.01 percentage points.\r<BR>\n" );
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document.write( "9% compounded monthly </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #153609 by </B><A HREF=/tutors/aboutme.mpl?userid=stanbon><B>stanbon(75887)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=stanbon><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/images/nopicture.jpg><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=153609\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Find the effective rate corresponding to the given nominal rate. Round results to the nearest 0.01 percentage points. <BR>\n" );
document.write( "9% compounded monthly<BR>\n" );
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document.write( "(1+(0.09/12)^(12*1)<BR>\n" );
document.write( "= 1.0938...<BR>\n" );
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document.write( "Effective rate is 9.38%<BR>\n" );
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document.write( "Cheers,<BR>\n" );
document.write( "Stan H. </SPAN>\n" );
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