Find the Effective Annual Interest Rate of 11% Compounded Monthly $r _ { \text {eff } } = 11.62 \%$

question 73

Multiple Choice

Find the effective annual interest rate of 11% compounded monthly. Round your answer to the nearest 0.01%.

• A) \(r _ { \text {eff } } = 11.62 \%\)
• B) \(r _ { \text {eff } } = 132.00 \%\)
• C) \(r _ { \text {eff } } = 1.12 \%\)
• D) \(r _ { \text {eff } } = 11.57 \%\)
• E) \(r _ { \text {eff } } = 11.47 \%\)

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Definitions:

Stomatitis

Inflammation of the mouth and lips, which can result in soreness, ulcers, and swelling, often caused by infections, irritants, or underlying diseases.

Bolus

A small rounded mass of substance, especially of chewed food at the moment of swallowing.

Chyme

The semi-fluid mass of partly digested food that moves from the stomach to the small intestine.

Anabolism

The constructive part of metabolism concerned with the building up of complex molecules from simpler ones.