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What is the effective semi-annual rate of a nominal interest

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Question - What is the effective semi-annual rate of a nominal interest rate (i) of 18% compounded monthly?

A. i = (1+ 0.18/12)^6 -1= 9.34%

B. i = (1+ 0.18)^2 -1= 39.24%

C. i = (1+ 0.18)^6 -1= 69.95%

D. i = (1+ 0.18/12)^2 -1= 3.02%

Reference no: EM132839729

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