An Investment Earned 5

question 72

Multiple Choice

An investment earned 5.8% compounded monthly for 6 years, and then 3.8% compounded quarterly for another 4. Determine the annual rate of interest per year compounded annually.

• A) 4.01
• B) 4.11
• C) 5.01
• D) 5.11
• E) 5.21

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Definitions:

Foreign Goods

Products or services produced in one country and sold in another.

Capital Account

An account of a country’s transfer of capital to or from other countries.

Public Land

Land owned by the government for public use or preservation.

Manufacturing Units

Facilities or factories where raw materials are transformed into finished products through the use of machinery, labor, and production processes.