Answered: A certain fund pays 6% interest per…

Engineering

Civil Engineering

A certain fund pays 6% interest per quarter. What is the effective rate of interest? 26.25% 7.14% 25.16% 6.14%

Engineering Fundamentals: An Introduction to Engineering (MindTap Course List)

5th Edition

ISBN:9781305084766

Author:Saeed Moaveni

Publisher:Saeed Moaveni

Chapter20: Engineering Economics

Section: Chapter Questions

Problem 21P

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Question

A certain fund pays 6% interest per quarter. What is the effective rate of interest?
26.25%
7.14%
25.16%
6.14%

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