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# Consumer arithmetic

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 aswatha udumalpet [ Scorecard : 90] Posted On 24 May 2012 at 20:06 The effective rate of interest corresponding a nominal rate of 7% p.a convertible quarterly is a)7% b)7.5% c)7.10% d)none of these intermediate(ipc)course no [ Scorecard : 1446] Posted On 24 May 2012 at 20:25 E = (1+I)^n - 1     =(1+0.07/4)^4*n-1     =(0.2675)^1/4*4-1     =0.2675 - 1      =0.7      =70% Total thanks : 1 times Tejaswi Kasturi student-cpt [ Scorecard : 402] Posted On 24 May 2012 at 21:38 (1+reff) = (1+r/n)^n 1+reff = (1+ 7/400)^4 = (1.0175)^4 = 1.071859 implies reff = 0.071859 = 7.1859%

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