Math
posted by Tracy .
Bank A is offering an interest rate of 6.60% compounded monthly, while bank B is offering an interest rate of 6.67% compounded quarterly.
The effective rate offered by bank A =?%,
while the effective rate offered by bank B = ?%.

Math 
Damon
(1 + i/n)^n  1
A
(1+.066/12)^12  1 = .0680 = 6.80 %
B
(1+.0667/4)^4  1 = .0684 = 6.85%
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