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Answer to Question #233746 in Civil and Environmental Engineering for Alan Enrico V Tuib
Question #233746
Select the best of the following five alternatives. Assume the investment is for a period of 4 years and P = $10,000.
a. 11.98% interest rate compounded continuously
b. 12.00% interest rate compounded daily
c. 12.01% interest rate compounded monthly
d. 12.02% interest rate compounded quarterly
e. 12.03% interest rate compounded yearly
a. 11.98% interest rate compounded continuously
b. 12.00% interest rate compounded daily
c. 12.01% interest rate compounded monthly
d. 12.02% interest rate compounded quarterly
e. 12.03% interest rate compounded yearly
Expert's answer
d. 12.02% interest rate compounded quarterly
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