The effective yield is the annual rate i that will produce the same interest per year as the nominal rate compounded n times per year.For a rate that is compounded n times per year,the formula for effective yield is given as Find the effective yield for a nominal rate of 9%,compounded monthly.Round your answer to two decimal places.
A) 0.94%
B) 9.62%
C) 10.01%
D) 1.50%
E) 9.38%

Question

The effective yield is the annual rate i that will produce the same interest per year as the nominal rate compounded n times per year.For a rate that is compounded n times per year,the formula for effective yield is given as  Find the effective yield for a nominal rate of 9%,compounded monthly.Round your answer to two decimal places. ​
A) ​0.94% 
B) ​9.62% 
C) ​10.01% 
D) ​1.50% 
E) ​9.38%

Quizplus · Accepted Answer

The Answer of The effective yield is the annual rate i that will produce the same interest per year as the nominal rate compounded n times per year.For a rate that is compounded n times per year,the formula for effective yield is given as  Find the effective yield for a nominal rate of 9%,compounded monthly.Round your answer to two decimal places. ​
A) ​0.94% 
B) ​9.62% 
C) ​10.01% 
D) ​1.50% 
E) ​9.38%

The Effective Yield Is the Annual Rate I That Will