A savings account offers a nominal interest rate of 6% per year, capitalized quarterly basis. Calculate the effective interest rate

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Answer to a math question A savings account offers a nominal interest rate of 6% per year, capitalized quarterly basis. Calculate the effective interest rate

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i_e = \left(1 + \frac{0.06}{4}\right)^4 - 1 \approx 0.06136 \text{ or } 6.136\%

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ind the z-score for which 72% of the distribution's area lies between -z and z. -1.7417, 1.7417 -1.1538, 1.1538 -1.0803, 1.0803 -2.826, 2.826