Engineering Economy 7th Edition by Leland Blank ,Anthony Tarquin

Exercise 42

High-tech companies such as IBM, AMD, and Intel have been using nanotechnology for several years to make microchips with faster speeds while using less power. A less well-known company in the chip business has been growing fast enough that the company uses a minimum attractive rate of return of 60% per year. If this MARR is an effective annual rate compounded monthly, determine the effective monthly rate.