An Investment Earned 6

question 233

Multiple Choice

An investment earned 6.3% compounded annually for two years, 5.4% compounded semi-annually over another 2 years, and 4.5% compounded quarterly over the last 6 years. Determine the average annual rate of return over this 10 year period based on monthly compounding.

• A) 4.75%
• B) 4.98%
• C) 5.01%
• D) 5.05%
• E) 5.15%

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