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24 November, 06:15

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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Answers (1)
  1. 24 November, 07:13
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    Answer: C) 1.56%
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