Mathematics, 14.10.2019 19:30 Lalagrl
What is the annual interest rate for an account that compounds monthly at a rate of 2.5%?
a.
2.10%
b.
2.50%
c.
2.53%
d.
2.55%
e.
2.58%
Answers: 1
is the rate
is the interest in decimals
is the number of compounded periods
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What is the annual interest rate for an account that compounds monthly at a rate of 2.5%?
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