Algebra and Trigonometry (6th Edition)
Algebra and Trigonometry (6th Edition)
6th Edition
ISBN: 9780134463216
Author: Robert F. Blitzer
Publisher: PEARSON
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A bank offers 0.5% effective monthly interest. What is the effective annual rate with monthly
compounding?
Оа.
7.2%
ОБ. 6.2%
Ос. 6%
O d. 7%
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Transcribed Image Text:A bank offers 0.5% effective monthly interest. What is the effective annual rate with monthly compounding? Оа. 7.2% ОБ. 6.2% Ос. 6% O d. 7%
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