Question Tag: Compounded Interest

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BMF – May 2021 – L1 – SA – Q16 – Basics of Business Finance and Financial Markets

Determines the effective rate for an account that pays 9.0% interest compounded monthly.

Question

What is the effective rate for an account that pays 9.0% compounded monthly?
A. 9.18%
B. 9.28%
C. 9.38%
D. 9.48%
E. 9.58%

Answer

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Find Related Questions by Tags, levels, etc.

Tags: Compounded Interest, Effective Rate, Financial Calculations
Level: Level 1

Topic: Basics of Business Finance and Financial Markets
Series: MAY 2021

BMF – May 2021 – L1 – SA – Q16 – Basics of Business Finance and Financial Markets

Determines the effective rate for an account that pays 9.0% interest compounded monthly.

Question

What is the effective rate for an account that pays 9.0% compounded monthly?
A. 9.18%
B. 9.28%
C. 9.38%
D. 9.48%
E. 9.58%

Answer

Login or create a free account to see answers

Find Related Questions by Tags, levels, etc.

Tags: Compounded Interest, Effective Rate, Financial Calculations
Level: Level 1

Topic: Basics of Business Finance and Financial Markets
Series: MAY 2021

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