Nominal interest rate compounded quarterly, Accounting Basics

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Nominal interest rate compounded quarterly

Problem:

A bank offers 4-year certificates of deposit (CD) at a 12 percent annual nominal interest rate compounded quarterly.

Required:

Question: How much additional interest you will earn over 4 years on a $10,000 CD that is compounded quarterly compared with one that is compounded annually.

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Accounting Basics: Nominal interest rate compounded quarterly

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Accounting Basics: Nominal interest rate compounded quarterly

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