Question 171467
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Remember: {{{I=(1+(i/m))^m}}}, calculated per year
where ---> {{{system(I=EffectiveInterest,i=interest=0.06,m=Compounded=4)}}}
So, {{{I=(1+(0.06/4))^4-1}}}
{{{I=(1.015)^4-1=1.0614-1=0.0614}}}x100%
{{{highlight(I=6.14percent)}}}, Effective Interest
Thank you,
Jojo</pre>