6% compounded every 2 months for 6 years. a) The annual interest rate as a decimal is b) The number of compounding periods per year is c) The number of years is d) The total number of compounding periods are

Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN:9781133382119
Author:Swokowski
Publisher:Swokowski
Chapter5: Inverse, Exponential, And Logarithmic Functions
Section5.2: Exponential Functions
Problem 50E
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6% compounded every 2 months for 6 years.
a) The annual interest rate as a decimal is
b) The number of compounding periods per year is
c) The number of years is
d) The total number of compounding periods are
Transcribed Image Text:6% compounded every 2 months for 6 years. a) The annual interest rate as a decimal is b) The number of compounding periods per year is c) The number of years is d) The total number of compounding periods are
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