Answered: A credit plan charges interest rate of…

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Economics

A credit plan charges interest rate of 35% compounded monthly. Find its effective rate. 41.20% O 40.42%

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

please answer number 2:bes 221-engineering economics. please give detailed and correct answers. I will report to bartleby thos tutors who will give incorrect answers.

A credit plan charges interest rate of 35% compounded monthly. Find its
effective rate.
41.20%
40.42%
41.55%
O 42.57%
O 35.64%
O 38.22%

Application of economic techniques to the evaluation of design and engineering alternatives. The role of engineering economics is to assess the appropriateness of a given project, estimate its value, and justify it from an engineering standpoint.

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