An interest rate of 2% per month is the same as: a. 24% per year b. A

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

a. 24% per year

b. A nominal 24% per year compounded monthly

c. An effective 24% per year compounded monthly

d. Both

(a) and (b)

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Basics Of Engineering Economy

ISBN: 9780073376356

2nd Edition

Authors: Leland T. Blank, Anthony Tarquin

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Question Posted: Oct 26, 2024 07:00 AM

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An interest rate of 2% per month is the same as: a. 24% per year b. A

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Basics Of Engineering Economy

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