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A bank offers 4.00% on savings accounts. What is the effective annual rate if interest is compounded monthly? Submit Answer format: Percentage Round to: 4
A bank offers 4.00% on savings accounts. What is the effective annual rate if interest is compounded monthly?
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Answer format: Percentage Round to: 4 decimal places (Example: 9.2434%, % sign required. Will accept decimal format rounded to 6 decimal places (ex: 0.092434))
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Financial Management For Public Health And Not-for-Profit Organizations
Authors: Steven A. Finkler, Daniel L. Smith, Thad D. Calabrese, Robert M. Purtell
7th Edition
1071835335, 978-1071835333
