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  3. Study Set
    Money Banking
  4. Exam
    Exam 4: Future Value, Present Value and Interest Rates
  5. Question
    A Monthly Interest Rate of 1% Is a Compounded Annual
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A Monthly Interest Rate of 1% Is a Compounded Annual

Question 3

Question 3

Multiple Choice

A monthly interest rate of 1% is a compounded annual rate of :


A) 12.68%
B) 10.00%
C) 14.11%
D) 6.00%

Correct Answer:

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