Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
Related questions
Question
An account pays 7% annual interest compounded monthly. What is the effective interest rate on this account?
note: show your answer in percent and to two decimal points. For example, input 12.126% as 12.13
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