The effective annual rate of interest corresponding to a nominal rate of 6% per annum payable half-yearly is________?
The effective annual rate of interest corresponding to a nominal rate of 6% per annum payable half-yearly is________? A. 6.06% B. 6.07% C. 6.08%D. 6.09% Explanation: Amount of Rs. 100 for 1 year when compounded half-yearly = [100 * (1…