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Hi sir, Your lectures are way better than reading textbook. There is a formula for everything in textbook even its not needed.
Q- The nominal intrest rateis 10% PER YEAR compounded on a monthly basis.
Req- A company is going to invest for 12 month what is the effective intrest rate ?
What i tried –
(0.1/12)^12 x100 but as i do (0.1/12)^12 it becomes zero.The answer in book is – 10.47 %
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