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

Question

anonymous · Answer

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

anonymous · Answer

is it multiple choice?

anonymous · Answer

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

anonymous · Answer

anonymous · Answer

lol take your time..no rushiinnn

anonymous · Answer

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

anonymous · Answer

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

anonymous · Answer

wait..
i am 100%
:)

anonymous · Answer

its C

anonymous · Answer

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

anonymous · Answer

dont feel bad, i barely got it lol

anonymous · Answer

Have a nice day aries

anonymous · Answer

you too!!

anonymous · Answer

thanks