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Ma2 Kaplan kit Q no 302

Forums › FIA Forums › MA2 Managing Costs and Finance Forums › Ma2 Kaplan kit Q no 302

  • This topic has 1 reply, 2 voices, and was last updated 1 year ago by Ken Garrett.
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  • June 2, 2021 at 3:13 pm #622784
    Muskan558
    • Topics: 3
    • Replies: 0
    • ☆

    Q. The effective annual rate of interest of 2.1% compounded every three months is ______%

    Answer in the book
    [(1.021)? –1]×100 = 8.67%

    Doubt
    Why they haven’t divided 2.1% of annual interest by 4 as it is compounded on quarterly basis?

    June 2, 2021 at 6:39 pm #622825
    Ken Garrett
    Keymaster
    • Topics: 10
    • Replies: 9975
    • ☆☆☆☆☆

    It’s an error and it should be:

    (1 + 0.021/4)^4 – 1 = 0.021166

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