Question 1182409: Given the rate per compounding period find r, the annual rate.
4.95% per half-year
R=%
Answer by ikleyn(52781)   (Show Source):
You can put this solution on YOUR website! .
To find the nominal annual rate in this problem, multiply the given semi-annual rate per half-year by 2, the number of halves in a year.
Remember, that doing this way, you obtain only "nominal" annual rate - not the actual annual rate of the account.
|
|
|
