document.write( "Question 1167250: Find the nominal rate corresponding to an effective rate of 5.85% if interest is compounded quarterly. \n" ); document.write( "

Algebra.Com's Answer #791853 by ikleyn(52867) $\"\"$ $\"About$

You can put this solution on YOUR website!
.
\n" ); document.write( "Find the nominal rate corresponding to an effective $\"highlight%28annual%29\"$ rate of 5.85% if interest is compounded quarterly.
\n" ); document.write( "~~~~~~~~\r
\n" ); document.write( "
\n" ); document.write( "
\n" ); document.write( "\n" ); document.write( " See how I edited your post in order for it would make sense.\r
\n" ); document.write( "
\n" ); document.write( "\n" ); document.write( "
\n" ); document.write( "

\r\n" );
document.write( "Let \"r\" be the nominal rate.\r\n" );
document.write( "\r\n" );
document.write( "\r\n" );
document.write( "Then your equation is\r\n" );
document.write( "\r\n" );
document.write( "\r\n" );
document.write( "     = 1.0585.\r\n" );
document.write( "\r\n" );
document.write( "\r\n" );
document.write( "Take the root of the degree 4 from both sides\r\n" );
document.write( "\r\n" );
document.write( "\r\n" );
document.write( "    1 + r = 1.014315.\r\n" );
document.write( "\r\n" );
document.write( "\r\n" );
document.write( "It implies\r\n" );
document.write( "\r\n" );
document.write( "\r\n" );
document.write( "    r = 1.014315 - 1 = 0.014315.      \r\n" );
document.write( "\r\n" );
document.write( "\r\n" );
document.write( "Then the nominal annual rate is 4*0.014315 = 0.05726 = 5.726%.       ANSWER\r\n" );
document.write( "

\r
\n" ); document.write( "\n" ); document.write( "Solved.\r
\n" ); document.write( "
\n" ); document.write( "\n" ); document.write( "-------------\r
\n" ); document.write( "
\n" ); document.write( "\n" ); document.write( "To see many other similar solved problems, look into the lesson\r
\n" ); document.write( "\n" ); document.write( " - Problems on discretely compound accounts \r
\n" ); document.write( "\n" ); document.write( "in this site, and learn the subject from there.\r
\n" ); document.write( "
\n" ); document.write( "
\n" ); document.write( "\n" ); document.write( "After reading this lesson, you will tackle such problems on your own without asking for help from outside.\r
\n" ); document.write( "
\n" ); document.write( "\n" ); document.write( "Also, you have this free of charge online textbook in ALGEBRA-I in this site\r
\n" ); document.write( "\n" ); document.write( " - ALGEBRA-I - YOUR ONLINE TEXTBOOK.\r
\n" ); document.write( "
\n" ); document.write( "\n" ); document.write( "The referred lesson is the part of this online textbook under the topic \"Logarithms\".\r
\n" ); document.write( "
\n" ); document.write( "
\n" ); document.write( "\n" ); document.write( "Save the link to this online textbook together with its description\r
\n" ); document.write( "
\n" ); document.write( "\n" ); document.write( "Free of charge online textbook in ALGEBRA-I
\n" ); document.write( "https://www.algebra.com/algebra/homework/quadratic/lessons/ALGEBRA-I-YOUR-ONLINE-TEXTBOOK.lesson\r
\n" ); document.write( "
\n" ); document.write( "\n" ); document.write( "to your archive and use it when it is needed.\r
\n" ); document.write( "
\n" ); document.write( "
\n" ); document.write( "\n" ); document.write( "Happy learning (!)\r
\n" ); document.write( "
\n" ); document.write( "
\n" ); document.write( "\n" ); document.write( " \n" ); document.write( "

\n" );