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Choose the One Alternative That Best Completes the Statement or Answers

Question 490

Multiple Choice

Choose the one alternative that best completes the statement or answers the question.
Find the effective rate of interest.
- 614%6 \frac { 1 } { 4 } \% compounded monthly


A) 6.43%6.43 \%
B) 6.25%6.25 \%
C) 6.39%6.39 \%
D) 6.29%6.29 \%

Correct Answer:

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