Sunday
March 29, 2015

Homework Help: Math

Posted by Tracy on Sunday, March 27, 2011 at 4:52pm.

Bank A is offering an interest rate of 6.60% compounded monthly, while bank B is offering an interest rate of 6.67% compounded quarterly.

The effective rate offered by bank A =?%,

while the effective rate offered by bank B = ?%.

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