Mathematics · Compound Interest
When the nominal rate of interest is 10% per annum and there is quarterly compounding, the effective rate of interest will be:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 110.38% per annum✓
- 210.26% per annum
- 310.10% per annum
- 410% per annum
Correct answer
10.38% per annum
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