Find the effective interest rate for a loan for four years compounded monthly at an annual rate of 12%
1 answer:
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We can see that
both lines intersects at origin
so, the solution is x=0 and y=0
now, we will check each options
option-A:
now, we can set them equal
and then we can solve for x
now, we can find y
so, solution is x=0 and y=0
so, this correct...........Answer
