Question
Situation 4 Savings for postgraduate studies Andrea's parents, a high school student, decided to give their daughter $ 100,000 for her postgraduate studies that she
Situation 4 Savings for postgraduate studies Andrea's parents, a high school student, decided to give their daughter $ 100,000 for her postgraduate studies that she will study abroad in 5 years, and they also plan to save an additional $ 2,000 each month during this same time, since they estimate that their studies and support will cost approximately $ 1,500,000. The banking institution offers you to invest the $ 100,000 and the monthly savings in a financial instrument that provides you with a fixed nominal interest rate of 5% per year, compounded monthly. The periodic interest rate is: [Value 1 point]
Select one: a. 1,040% b. 1,416% c. 0.416% d. 0.040%
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