Question
An amount of $2300 earns $500 interest in 3 years and 2 months. What is the effective annual rate if interest compounds monthly?
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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College Algebra Graphs and Models
Authors: Marvin L. Bittinger, Judith A. Beecher, David J. Ellenbogen, Judith A. Penna
5th edition
321845404, 978-0321791009, 321791002, 978-0321783950, 321783956, 978-0321845405
