Question: 1 . What is the effective interest rate? a . 4 . 7 5 compounded quarterly b . 7 . 2 compounded monthly c .

1. What is the effective interest rate?
a.4.75 compounded quarterly
b.7.2 compounded monthly
c.3.95 compounded semi-annually
2. What's the compound interest rate if $8,500 becomes $12,400 in 5 years compounded semiannually?

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