SOLUTION: Determine the effective annual yield for $1 invested for 1 year at 10.5% compounded quarterly
a. 0.92%
b. 10.92%
c.5.32%
d. 20.92%
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-> SOLUTION: Determine the effective annual yield for $1 invested for 1 year at 10.5% compounded quarterly
a. 0.92%
b. 10.92%
c.5.32%
d. 20.92%
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Question 1120449: Determine the effective annual yield for $1 invested for 1 year at 10.5% compounded quarterly
a. 0.92%
b. 10.92%
c.5.32%
d. 20.92% Answer by greenestamps(13200) (Show Source):
As a multiple choice question, this problem is trivial. The answer has to be something very slightly larger than 10.5%; only answer b is anywhere close....
