Calculate the Effective Annual Interest Rate If Your Bank Quotes

question 10

Multiple Choice

Calculate the effective annual interest rate if your bank quotes you 10% per annum,compounded quarterly.

• A) 14.01%
• B) 10.38%
• C) 10%
• D) 2.50%

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Community Colleges

Public institutions providing higher education and vocational training, often offering two-year degrees, certificates, and transfer programs to four-year universities.

Six-Week

A period or duration of six consecutive weeks.

Associate of Arts

A two-year undergraduate degree focusing on liberal arts or general studies.

Master's Degree

An advanced academic degree granted by universities upon completion of a course of study demonstrating mastery or high-order overview of a specific field of study or area of professional practice.