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```    1 ## DESCRIPTION
2 ##  Financial mathematics: Effective and nominal rates of interest
3 ## ENDDESCRIPTION
4
5 ## KEYWORDS('financial mathematics', 'effective and nominal rates')
6 ## JJH tagged this problem.
7
8 ## DBsubject('Financial Mathematics')
9 ## DBchapter('Introduction to Interest')
10 ## DBsection('Effective and Nominal Rates of Interest')
11 ## Date('5/22/2005')
12 ## Author('Jeff Holt')
13 ## Institution('UVA')
14 ## TitleText1('Financial Mathematics')
15 ## EditionText1('1')
16 ## AuthorText1('Holt')
17 ## Section1('1.3')
18 ## Problem1()
19
20 DOCUMENT();        # This should be the first executable line in the problem.
21
23            "PGbasicmacros.pl",
24            "PGchoicemacros.pl",
26 "PGauxiliaryFunctions.pl");
27
28 TEXT(beginproblem());
30
31 \$ip = random(7,12,0.1);
32 \$i12 = 0.01*\$ip;
33 \$i6 = (1+\$i12/12)**(12/6) - 1;
34
35 # Present the text.
36
37 TEXT(EV2(<<EOT));
38
39 Suppose that a savings account pays a nominal interest rate of \$ip percent convertible monthly.
40 What is the equivalent per-2-month interest rate?
41
42 \$BR
43
44 Answer = \{ &ans_rule(30) \} percent. \$BR
45
46 EOT
47
48 \$ans = \$i6*100;
49 ANS(num_cmp(\$ans, format => '%0.3f', tol => .001) );
50
51
52 ENDDOCUMENT();        # This should be the last executable line in the problem.
```