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What is the effective annual rate for an APR of 16.10 percent compounded monthly? 17.10% 18.21% 16.24% 17.22% 17.34% You are going to deposit $3,100
What is the effective annual rate for an APR of 16.10 percent compounded monthly?
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17.10%
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18.21%
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16.24%
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17.22%
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17.34%
You are going to deposit $3,100 in an account that pays .37 percent interest compounded monthly. How much will you have in 7 years?
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$4,227.58
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$4,201.75
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$4,211.99
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$4,243.22
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$4,231.80
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