Multiple Choice
An investment earned 8% compounded quarterly for 10 years, and then 5.15% compounded semi-annually for another 15. Determine the annual rate of interest per year compounded monthly.
A) 7.38%
B) 7.16%
C) 6.84%
D) 6.42%
E) 5.85%
Correct Answer:
Verified
Correct Answer:
Verified
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