What is the effective annual interest rate on a savings account that earns interest at a rate of 1.55% compounded monthly?
a.) 1.29%
b.) 1.55%
c.) 1.56%
d.) 1.59%

if you get paid hourly because if you get a salary you could work all week and only get paid a certain amount no matter how much you work but if you get paid hourly then you get paid for every minute you worked.

-5, your answer was correct