Question: An effective 12.68% per year, compounded monthly, is the closest to: (a) 12% per year (b) 12% per year, compounded annually (c) 1% per month

An effective 12.68% per year, compounded monthly, is the closest to:

(a) 12% per year

(b) 12% per year, compounded annually

(c) 1% per month

(d) 1% per month, compounded annually


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