Homework Help: Finite Math

Posted by Dee on Friday, May 6, 2011 at 5:04pm.

Find the effective rate corresponding to the given nominal rate. (Round your answer to two decimal places.)
11%/year compounded semiannually

Finite Math - Reiny, Friday, May 6, 2011 at 5:08pm
make a comparison base on one year
let the effective rate be i

(1+i)^1 = (1.055^2
1+i = 1.113025
i = .113025 or 11.3025% per annum
Finite Math - Dee, Friday, May 6, 2011 at 5:39pm
I'm so lost...

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