A bank quotes a stated annual interest rate of 4.00%.If that rate is equal to an effective annual rate of 4.08%,then the bank is compounding interest:
A.Daily
B.Quarterly
C.Semiannually
Answer:A
解析
公式是（1+4%/N）^N-1；
所以，Daily是4.08%，Quarterly是4.06%，Semiannually是4.04%，答案选A。
