The effective annual rate of interest corresponding to a nominal rate of 6% per annum payable half yearly is:
A. Rs 6.06%
B. Rs 6.07%
C. Rs 6.08%
D. Rs 6.09%
Answer:D
The effective annual rate of interest corresponding to a nominal rate of 6% per annum payable half yearly is:
A. Rs 6.06% B. Rs 6.07% C. Rs 6.08% D. Rs 6.09%