An investor can invest money with a particular bank and earn a stated interest rate of 4.40%; however, interest will be compounded quarterly. What are the nominal, periodic, and effective interest rates for this investment opportunity? Interest Rates Nominal rate Periodic rate Effective annual rate

Nominal rate is 4.4%

Periodic rate is 1.1%

Effective rate is 4.5%

Explanation:

Bank offer the the nominal interest rate to their customer which already includes the inflation effect, so the stated rate is the nominal rate on the investment.

Nominal Interest rate = 4.4%

Interest rate that is calculated for a specific period from an annual rate is periodic interest rate.

Periodic interest rate (Quarterly) = 4.4% x 3 /12 = 1.1%

Effective Interest rate is the actual rate of return that an investor receives including compounding effect. It is expressed in annual term.

Effective Interest rate = ( 1 + 1.1% )^4 - 1 = 4.5%

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