If we change the interest rate from compounded semiannually to compounded monthly the effective interest rate will:

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Question:

Select one:

a). Not change

b). Increase

c). Decrease

Related Book For answer-question

Statistical Reasoning for Everyday Life

ISBN: 978-0321817624

4th edition

Authors: Jeff Bennett, Bill Briggs, Mario F. Triola

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Posted Date: Aug 24, 2020 05:31 AM

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If we change the interest rate from compounded semiannually to compounded monthly the effective interest rate will:

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Statistical Reasoning for Everyday Life

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