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An interest rate is quoted as being 7.5% compounded quarterly. What is the effective annual interest rate? 47 70/

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

An interest rate is quoted as being 7.5% compounded
quarterly. What is the effective annual interest rate?
A 17.7%
B 7.17%
C) 7.71%
D
1.77%

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