Question 1076468
The total interest accrued after 3 years of quarterly compounding would be:
(1 + .06/4)^(3*4)=(1.015)^12=1.1956181714615352515612900979004
1.1956181714615352515612900979004 - 1= 0.19561817% after 3 years
0.19561817/3=.065206, or an effective simple interest rate of 6.5206%. &#9786;&#9786;&#9786;&#9786;