Question: ARAB Bank pays 0.074 percent, compounded weekly (based on 52 weeks), on an 8-month certificate of deposit. If you deposit $15000. what is the effective

ARAB Bank pays 0.074 percent, compounded weekly (based on 52 weeks),

on an 8-month certificate of deposit. If you deposit $15000. what is

ARAB Bank pays 0.074 percent, compounded weekly (based on 52 weeks), on an 8-month certificate of deposit. If you deposit $15000. what is the effective annual rate what is the amount of interest paid to you in 8 months? An annual interest rate of 22% compounded quarterly. What is an effective annual rate? Select one: O a. 24.88% O b. 23.88% O c. 23% O d. 22.88%

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