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Calculate the effective annual interest rate if the annual interest rate, i, is 9%. A. 0.0855 B. 0.0900 C. 0.0938 D. 0.0959
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Calculate the effective annual interest rate if the annual interest rate, i, is 9%.

A. 0.0855
B. 0.0900
C. 0.0938
D. 0.0959

User Eric Amorde
by
8.1k points

2 Answers

4 votes
Hi there

(1+0.09÷12)^(12)−1
=0.0938

Hope it helps
User Rafalry
by
7.6k points
2 votes
B. ) Unless you're missing some data.
User Automatix
by
8.2k points
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