10.20% Compounded Monthly Is Equal to 10.69% Compounded Annually

question 62

True/False

10.20% compounded monthly is equal to 10.69% compounded annually.

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Definitions:

Biological Asset

Living plants or animals that companies hold for sale, into agricultural produce, or into additional biological assets.

IAS 41

An international accounting standard that relates to agriculture, covering the accounting for agricultural activity and the management of living plants and animals.

Agricultural Produce

The harvested product of the entity’s biological assets.