Which of the following is the effective annual rate of interest corresponding to a compound interest rate of 9% per annum compounded half – yearly?
Which of the following is the effective annual rate of interest corresponding to a compound interest rate of 9% per annum compounded half – yearly?
निम्ननलिखित में से कौन सी प्रभावी वार्षिक ब्याज दर 9% प्रति वर्ष की अर्धवार्षिक चक्रवृद्धि ब्याज दर के अनुरुप है?
Detailed Solution & Logic
Correct Answer:
9.20%
Effective Annual Rate $= \left(1 + \dfrac{0.09}{2}\right)^2 - 1$
$= (1.045)^2 - 1$
$= 1.092025 - 1 = 0.092025$
Effective Annual Rate $= 9.20%$
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