What Is the Annual Percentage Yield (Or Effective Annual Rate)for

question 184

Multiple Choice

What is the annual percentage yield (or effective annual rate) for a nominal rate of 8.7% compounded quarterly? Round your answer to two decimal places.

• A) 8.70%
• B) 9.06%
• C) 9.09%
• D) 8.99%
• E) 8.89%

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