The effective rate that is equivalent to

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Target Exam

CUET

Subject

-- Mathematics - Section B2

Chapter

Financial Mathematics

Question:

The effective rate that is equivalent to a nominal rate of 12% compounded semi-annually is:

Options:

11.26%

13.45%

10.15%

12.36%

Correct Answer:

12.36%

Explanation:

The correct answer is Option (4) → 12.36%