9514 1404 393
Answer:
0.06164
Step-by-step explanation:
The effective annual rate obtained by compounding nominal annual rate r monthly is ...
eff rate = (1 +r/12)^12 -1
Then the value of r is ...
r = 12×((eff rate) +1)^(1/12) -1)
For the given effective rate, that is ...
r = 12×(1.06341^(1/12) -1) ≈ 0.06164 . . . . nominal annual interest rate
Strong, they are all close together and close to the line.
The answer or product is 12328
Answer:
Step-by-step explanation:
B = -2
Answer: 231,469.335
Step-by-step explanation:
rounded to the nearest 0.001 or the thousandths place