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28-10-2020
Business

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An interest rate is 12% per annum with continuous compounding. What is the equivalent rate with semiannual compounding

Respuesta :

30-10-2020

Answer:

11.66%

Explanation:

The interest rate of continuous compounding is known as the effective interest rate and this is 12%. The interest equivalent of this, compunded a number of times in a year is known as the norminal rate.

The Nominal rate with semiannual compounding is calculated using a financial calculator as follows :

12% SHIFT + EFF%

P/YR = 2

SHIFT NOM% = 11.66%

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