SOLUTION: What is the effective interest rate of $76,000 CD at 4% year, compounded quarterly.

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Question 647883: What is the effective interest rate of $76,000 CD at 4% year, compounded quarterly.
Answer by rfer(16322) About Me  (Show Source):
You can put this solution on YOUR website!
A=76000(1.01)^4
A=79085.90
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er=3085.90/76000
er=0.0406=4.06%