A Bank Offers an Account with an APR of 6

question 84

Multiple Choice

A bank offers an account with an APR of 6% and an EAR of 6.09%.How does the bank compound interest for this account?

• A)weekly compounding
• B)monthly compounding
• C)semi-annual compounding
• D)annual compounding
• E)daily compounding

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Definitions:

Sense Of Taste

The sensory ability to discern different flavors and substances, primarily through the taste buds on the tongue.

Reproduce

The natural method through which new organisms are produced to guarantee the survival of a species.

Fragrant Odors

Smells that are pleasantly sweet or aromatic, often produced by flowers, herbs, spices, or essential oils.

Pleasant Memories

Recollections that are enjoyable and positive.