An amount of $2300 earns $500 interest in 3 years and 2 months. What is the effective

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An amount of $2300 earns $500 interest in 3 years and 2 months. What is the effective annual rate if interest compounds monthly?

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Contemporary Business Mathematics with Canadian Applications

ISBN: 978-0133052312

10th edition

Authors: S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs

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Question Posted: Feb 26, 2016 03:52 AM

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An amount of $2300 earns $500 interest in 3 years and 2 months. What is the effective

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PV 230000 FV 280000 n 38 C Y 12 280000 230000 1 i 38 i 28000023000...View the full answer

Contemporary Business Mathematics with Canadian Applications

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