What is the effective annual interest rate on a savings account that earns interest at a rate of 1.55% compounded monthly?
A.) 1.29%
B.) 1.55%
C.) 1.56%
D.) 1.59%
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Home » Mathematics » What is the effective annual interest rate on a savings account that earns interest at a rate of 1.55% compounded monthly? A.) 1.29% B.) 1.55% C.) 1.56% D.) 1.59%