Calculate the Effective Rate of Interest, If $10 000 Grew

question 73

Multiple Choice

Calculate the effective rate of interest, if $10 000 grew to $15 000 in 4 years with quarterly compounding.

• A) 12.28%
• B) 10.67%
• C) 4.06%
• D) 8.45%
• E) 0.85%

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