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At what nominal rate of interest compounded monthly will $40 000.00 earn $7200.00 interest in three ...

ikrabbe

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7 years ago

At what nominal rate of interest compounded monthly will $40 000.00 earn $7200.00 interest in three ...

At what nominal rate of interest compounded monthly will $40 000.00 earn $7200.00 interest in three years?
A) 6%
B) 0.461%
C) 4.879%
D) 59%
E) 4.61%

Textbook

Contemporary Business Mathematics with Canadian Applications

Contemporary Business Mathematics with Canadian Applications

Edition: 11^th

Authors: Hummelbrunner, Halliday, Hassanlou, Coombs

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rmaccara

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#1

7 years ago

A

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