domher61
domher61 domher61
  • 15-02-2021
  • Mathematics
contestada

What is the effective interest rate on an account that earns 5.5% compounded monthly?

Respuesta :

madethisfortwitch1
madethisfortwitch1 madethisfortwitch1
  • 15-02-2021

Answer:

.46%

Step-by-step explanation:

.055/12= .00458= .46%

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