An amount is lent at 40% p.a. rate of interest compounded quarterly. Find the effective yearly rate of interest.

An amount is lent at 40% p.a. rate of interest compounded quarterly. F

1.	An amount is lent at 40% p.a. rate of interest compounded quarterly. Find the effective yearly rate of interest.
A.	46.41%
B.	45.8%
C.	47%
D.	44.3%
Answer» B. 45.8%

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An amount is lent at 40% p.a. rate of interest compounded quarterly. Find the effective yearly rate of interest.

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