An account that compounds interest monthly has an annual percentage yield of 6.2%. What is the annual interest rate for the account? O 6.38% O 3.02% O 6.03% O 6.06%

Holt Mcdougal Larson Pre-algebra: Student Edition 2012
1st Edition
ISBN:9780547587776
Author:HOLT MCDOUGAL
Publisher:HOLT MCDOUGAL
Chapter7: Percents
Section7.7: Simple And Compound Interest
Problem 26E
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An account that compounds interest monthly has an annual
percentage yield of 6.2%.
What is the annual interest rate for the account?
O 6.38%
O 3.02%
O 6.03%
O 6.06%
Transcribed Image Text:An account that compounds interest monthly has an annual percentage yield of 6.2%. What is the annual interest rate for the account? O 6.38% O 3.02% O 6.03% O 6.06%
An account has an annual interest rate of 5.3%, compounded
monthly.
What is the annual percentage yield?
O 6.80%
O 4.42%
O 5.43%
O 5.18%
Transcribed Image Text:An account has an annual interest rate of 5.3%, compounded monthly. What is the annual percentage yield? O 6.80% O 4.42% O 5.43% O 5.18%
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