Minnie Rose deposited $16,000 in Street Bank at 6% interest compounded quarterly. What was the effective rate (APY)? Effective rate (APY): ____________%
Minnie Rose deposited $16,000 in Street Bank at 6% interest compounded quarterly. What was the effective rate (APY)? Effective rate (APY): ____________%
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter7: Exponents And Exponential Functions
Section: Chapter Questions
Problem 69SGR
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Minnie Rose deposited $16,000 in Street Bank at 6% interest compounded quarterly. What was the effective rate (APY)?
Effective rate (APY): ____________%
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