Find the effective rate corresponding to the given nominal rate. Round your answers to two decimal places.
?
10% / year compounded semiannually
?
_____%
?
3% / year compounded quarterly
?
_____%
?

A. 3.03%,   3.05%
B. 3.04%,   3.05%
C. 10.25%,   3.03%
D. 3.03%,   3.04%

Answer: C

Mathematics

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