document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=460360>Question 460360</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Ellen’s charge card statement states that the effective annual interest rate is <BR>\n" );
document.write( "18.9%. Calculate the nominal rate of interest compounded daily.  </SPAN>\n" );
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document.write( "18.9%. Calculate the nominal rate of interest compounded daily.<BR>\n" );
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document.write( "(1+ 0.189/365)^(365*1) = 1.21<BR>\n" );
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document.write( "nominal rate of interest compounded daily = 21%<BR>\n" );
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document.write( "Cheers,<BR>\n" );
document.write( "Stan H. <BR>\n" );
document.write( " </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );