Question

The effective rate which is equivalent to stated rate of $6\%$ compounded semiannually is:

• A. $6.09\%$
• B. $1.03\%$
• C. $4.09\%$
• D. $5.09\%$

Answer 1

Answer: (A)

$6.09\%$

Answer 2

The correct option is (A):$6.09\%$