# Yolandas bank advertises a savings investment that pays 6 percent compounded monthly. What is the investments (a) Annual percentage rate (APR) (b) Effective annual rate (rEAR)?

Chapter 4, Problems #22

Yolanda’s bank advertises a savings investment that pays 6 percent compounded monthly. What is the investment’s

(a) Annual percentage rate (APR)

(b) Effective annual rate (rEAR)?

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