The effective annual rate of interest corresponding to a nominal rate of 14% per annum payable half-yearly is? Answers.
A) 16.06%
B) 16.07%
C) 16.08%
D) 14.49%
E) 16.19%
Amount of Rs. 100 for 1 year when compounded half-yearly = [100 * (1 + 7/100)2] = Rs. 14.49 Effective rate = (114.49 - 100)= 
<gadget id="calculator">(114.49 - 100)</gadget>
<output>14.49</output>
14.49%   ANSWER:14.49%
<result>D</result>
The effective annual rate of interest corresponding to a nominal rate of 14% per annum payable half-yearly is?