Solution: What is the effective rate?

(Last Updated On: December 8, 2017)

What is the effective rate?

Problem Statement: EE Board October 1997

A man borrowed P100,000 at the interest rate of 12% per annum, compounded quarterly. What is the effective rate?

  • A. 3%
  • B. 13.2%
  • C. 12%
  • D. 12.55%

Problem Answer:

The effective rate is 12.55%.

Solution:

Solution: What is the effective rate?

Latest Problem Solving in Engineering Economics (Simple & Compound Interest)

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