Solve the Problem. -Determine the Effective Annual Yield for $1 Invested for 1

question 155

Multiple Choice

Solve the problem.
-Determine the effective annual yield for $1 invested for 1 year at 4.5% compounded monthly.

• A) 2.27%
• B) 0.38%
• C) 4.59%
• D) -5.41%