Seesawseen got an EAR of 14% from an investment in bank’s FD with monthly compounding. What was the Annual Percentage return quoted by the bank _____.
13.17%
14.00%
14.93%
11.33%
Answers
Answered by
1
Answer:
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Answered by
1
Answer:
13.17%
Explanation:
(1+(X/12))^12
=1.114
X=13.17
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