Question

Calculate the effective annual interest rate if the annual interest rate, i, is 9%. use ieff = (1 + i/12)12 – 1.

Answer 1

give me a sec, im rusty on these, im reading up on it

Answer 2

is it multiple choice?

Answer 3

kay..the answer choices are A. 0.0855 B. 0.0900 C. 0.0938 D. 0.0959

Answer 4

I am trying to learn how to from here, give me some time http://www.investopedia.com/terms/e/effectiveinterest.asp#axzz2DNoh8OTL

Answer 5

lol take your time..no rushiinnn

Answer 6

i know for sure its not A or B... im still workin

Answer 7

I would say C, but im not 100% on it. Im really sorry i couldnt be more help

Answer 8

wait..
i am 100%
:)

Answer 9

its C

Answer 10

THANK YOU!!!for some reason i couldnt get that :P *facepalm*

Answer 11

dont feel bad, i barely got it lol

Answer 12

Have a nice day aries

Answer 13

you too!!

Answer 14

thanks