Question

An effective rate of 29.61% corresponds to a nominal rate, compounded weekly,of?

*34.35%

*29.53%

*26%

*29.61%

Answer 1

$i=100((\frac{1+j}{m})^m-1)$

$29.61=100((1+\frac {r} {52} )^{52}-1 )$

r=26%