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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<h2>Answer:</h2>
There are 1757600 possibilities.
<h2>Step-by-step explanation:</h2>In a certain state, fishing licenses are in the form of LLL NN
L stands for a letter of the alphabet (a to z)
N stands for a one-digit number from 0 to 9.
Now, for the series LLL, 3 alphabets are placed that can be any from a to z. This means at each place, 26 letters can be placed.
Similarly, for NN, 2 numbers are placed that can be any, between 0 and 9. At each place 0 to 9 can be placed.
Hence, the total possible outcomes will be :
=1757600
Therefore the answer is 1757600 possibilities.