Question: How much better is the return on a 7% yearly interest rate investment that is compounded monthly as opposed to compounded yearly? Hint: 5.1

How much better is the return on a 7% yearly interest rate

How much better is the return on a 7% yearly interest rate investment that is compounded monthly as opposed to compounded yearly? Hint: 5.1 is 2% better than 5. (5 = 1.02)

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