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20-03-2020
Mathematics

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Periodic rate can be computed using this formula

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queenelena10141 queenelena10141

20-03-2020

Answer & Explanation:

First, divide the nominal rate by the number of compounding periods. The result is the periodic rate. Now add this number to 1 and take the sum by the power of the number of compounding interest rates. Subtract 1 from the product to get the effective interest rate.

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