Multiple Choice
If a bank pays a 4.50% nominal rate,with monthly compounding on deposits,what effective annual rate (EFF%) does the bank pay?
A) 3.35%
B) 3.72%
C) 4.13%
D) 4.59%
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q72: Which of the following is true regarding
Q73: At a rate of 6.25%,what is the
Q74: What's the rate of return you would
Q75: Which of the following statements is correct?<br>A)If
Q76: Which of the following statements regarding a
Q78: What is the PV of an annuity
Q79: Suppose a bank offers to lend you
Q80: Calculating present value and future value using
Q81: You agree to make 24 deposits of
Q82: An investment costs $1,000 (CF at t