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For numbers 4 to 5: Maria wants to have $750,000.00 at the end of 4 years for her graduation expenses. She plans to deposit a

For numbers 4 to 5: Maria wants to have $750,000.00 at the end of 4 years for her graduation expenses. She plans to deposit a certain amount at the end of each month to achieve this. Her bank pays 15% compounded monthly. 4. Which of the following refers to the monthly rate? A. 1.25% B. 15% C. 12% D. 0.0125%

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