Question
You are offered an investment with a quoted annual interest rate of 10% with monthly compounding of interest. What is your effective annual interest rate?
You are offered an investment with a quoted annual interest rate of 10% with monthly compounding of interest. What is your effective annual interest rate?
|
| 10.00% |
|
| 10.27% |
|
| 9.74% |
|
| 10.82% |
|
| 10.47% |
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Handbook Of Financial Cryptography And Security
Authors: Burton Rosenberg, Douglas R. Stinson
1st Edition
1420059815, 978-1420059816
