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nadya68
1 month ago
11

If an instalment plan quotes a monthly interest rate of 4%, the effective annual/yearly interest rate would be _____________. 4%

Between 4% and 48% 48% More than 48%
Physics
1 answer:
inna [3.1K]1 month ago
4 0

Answer:

More than 48%

Explanation:

If the interest is calculated monthly based on the outstanding balance, it leads to an effective annual rate of...

(1 + 4%)^12 - 1 = 60.1%... more than 48%

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<span>b/ What is the wavelength of this light? </span>
<span>------------------------------ </span>

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1 month ago
Read 2 more answers
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