An interest rate of 2% per month is the same as: (a) 24% per year, compounded monthly

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An interest rate of 2% per month is the same as:

(a) 24% per year, compounded monthly

(b) A nominal 24% per year, compounded monthly

(d) Both (a) and (b)

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Engineering Economy

ISBN: 978-0073523439

8th edition

Authors: Leland T. Blank, Anthony Tarquin

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Question Posted: Dec 24, 2018 08:29 AM

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An interest rate of 2% per month is the same as: (a) 24% per year, compounded monthly

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Engineering Economy

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