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August 23, 2014

August 23, 2014

Posted by **Anonymous** on Monday, February 4, 2013 at 6:42am.

- calc -
**Reiny**, Monday, February 4, 2013 at 8:50amlet the quarterly rate be i

then (1+i)^4 = (1+.08)^1

(1+i)^4= 1.08

take 4th root of both sides

1+i= 1.0194265..

i = .019426..

4i= .077706..

So the annual rate compounded quartely is

7.77% correct to 2 decimals

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