Mathematics, 13.05.2021 22:20, dolphinkina35

Jackie would like to borrow money at 1.6% interest per quarter, compounded quarterly. Her research indicates that rates for loans are often quoted as annual
rates. Which of the following is the best approximation for the annual rate,
compounded annually, that is equivalent to the rate Jackie wants?

Answers: 3

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Jackie would like to borrow money at 1.6% interest per quarter, compounded quarterly. Her research...