What nominal interest rate per year is equivalent to 11.5% per year, compounded monthly?

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Engineering economy

ISBN: 978-0073376301

7th Edition

Authors: Leland Blank, Anthony Tarquin

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Question Posted: Dec 17, 2012 05:38 AM

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What nominal interest rate per year is equivalent to 11.5% per year, compounded monthly?

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The effective interest rate is always calculated as if compounded annually The effective ra...View the full answer

Engineering economy

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