9514 1404 393
Answer:
0.2807
Step-by-step explanation:
The relationship between the effective annual yield (e) and the nominal annual interest rate (r) compounded n times per year is ...
e = (1 +r/n)^n -1
e = (1 +0.25/12)^12 -1 = 0.2807 . . . . . . about 28.07%
