Q. The effective annual rate of interest corresponding to a nominal rate of 7% per annum payable halfyearly is
A) 14.25 percent
B) 14 percent
C) 7.12 percent
D) 7 percent
✔ Correct Answer: 7.12 percent
Exam Insight
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A) 14.25 percent
B) 14 percent
C) 7.12 percent
D) 7 percent
✔ Correct Answer: 7.12 percent
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