Mathematics
Mathematics, 29.05.2020 22:01, deidaralove90

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You invest $1000 in an account that has an annual interest rate of 4%, compounded monthly for 12 years. What is the equivalent interest rate and how many times will the money be compounded?
a) 3% and 4 times
b) 0.33% and 144 times
c) 3% and 144 times
d) 0.33% and 1 time

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Answers: 3

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