Question: How to solve these? I don't understand why answer is came out like that. 4. You deposited $100 in a savings account 11 months ago.

How to solve these? I don't understand why answer is came out like that.

How to solve these? I don't understand why answer is came out

4. You deposited $100 in a savings account 11 months ago. You currently have $107.68. What was the EAR if the bank paid interest with monthly compounding? A) 7.42% B) 7.68% C) 8.1% D) 8.41%

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