Question
The State Employees' Credit Union offers a 1-year certificate of deposit with an APR (or effective rate) of 5.8%. If interest is compounded quarterly, find
The State Employees' Credit Union offers a 1-year certificate of deposit with an APR (or effective rate) of 5.8%. If interest is compounded quarterly, find the actual interest rate. Round to the nearest tenth of a percent.
A) 5.9% B) 5.7% C) 6.6% D) 5.3%
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Computational Finance And Its Applications
Authors: C. A. Brebbia, M. Costantino
1st Edition
1853127094, 978-1853127090
