Question: ENGINEERING ECONOMICS SUBJECT NEED ASAP WITH STEP BY STEP SOLUTION -------------------------------------------------------------------------------------------------------------------------------- A savings association pays 1.5% quarterly, What is the effective annual interest rate? a)

ENGINEERING ECONOMICS SUBJECT

NEED ASAP WITH STEP BY STEP SOLUTION

--------------------------------------------------------------------------------------------------------------------------------

A savings association pays 1.5% quarterly, What is the effective annual interest rate?

a) 7.85% b) 6.55% c) 6.14% d ) 8.55%

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