High-tech companies such as IBM, AMD, and Intel have been using nanotechnology for several years to make

Question:

High-tech companies such as IBM, AMD, and Intel have been using nanotechnology for several years to make microchips with faster speeds while using less power. A less well-known company in the chip business has been growing fast enough that the company uses a minimum attractive rate of return of 60% per year. If this is an effective annual rate compounded monthly, determine the effective monthly rate.

MARR
Minimum Acceptable Rate of Return (MARR), or hurdle rate is the minimum rate of return on a project a manager or company is willing to accept before starting a project, given its risk and the opportunity cost of forgoing other...