Answer to Question #302842 in Financial Math for Ndi

Question #302842

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

*34.35%

*29.53%

*26%

*29.61%

Expert's answer

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

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

r=26%

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