If an investment yields an interest rate of 10% annually compounded quarterly. What is the effective interest rate?
A. 10.4%
B. 4%
C. 10%
D. 10.2%
Answer:A
If an investment yields an interest rate of 10% annually compounded quarterly. What is the effective interest rate?
A. 10.4% B. 4% C. 10% D. 10.2%