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| rev | Admin | (Created page with "A corporation makes a payment at the end of each month into a savings account that offers an annual nominal interest rate of 8% compounded quarterly. Determine the equivalent effective rate of interest per payment period. <ul class="mw-excansopts"><li>(1 + 8%/4)<sup>1/3</sup>-1</li><li>(1 + 8%/12)-1</li><li>(1 + 8%/12)<sup>3</sup>-1</li><li>(1 + 8%/12)<sup>1/12</sup>-1</li><li>(1 + 8%/4)<sup>4</sup>-1</li></ul> {{soacopyright | 2023 }}") | Nov 17'23 at 22:57 | +442 |