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You plan to invest some money in a bank account with an APR of 6% with quarterly compounding. What is the effective annual rate? 1.50%
You plan to invest some money in a bank account with an APR of 6% with quarterly compounding. What is the effective annual rate?
| 1.50% | ||
| 24.00% | ||
| 6.54% | ||
| 5.96% | ||
| 6.14% | ||
| 6.00% |
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The Economics Of Money Banking And Finance
Authors: Peter Howells, Keith Bain
4th Edition
0273710397, 978-0273710394
