If the nominal annual interest rate is 9% compounded quarterly, what is the effective annual interest rate

9.3%

Explanation:

You can find the effective annual rate by the formula:

effective rate = (1 + nominal rate/ no. of compounding periods in a year)^no. of compounding periods in a year - 1

= (1 + 9%/4)⁴ - 1

= ‭1.093 - 1

= 9.3%

corrosion is a natural process, which converts a refined metal to a more chemically-stable form, such as its oxide, hydroxide, or sulfide. it is the gradual destruction of materials (usually metals) by chemical and/or electrochemical reaction with their environment.

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