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If the nominal rate of interest is 10% per annum and there is quarterly compounding, the effective rate of interest will be:

A. 10% per annum

B. 10.10% per annum

C. 10.25% per annum

D. 10.38% per annum

Related Questions on Management Accounting Test Questions

Time value of money indicates that

A. A unit of money obtained today is worth more than a unit of money obtained in future

B. A unit of money obtained today is worth less than a unit of money obtained in future

C. There is no difference in the value of money obtained today and tomorrow

D. None of the above