Finite Mathematics What is the effective interest rate of 8.1% interest compounded monthly? Show how you calculated your answer

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter7: Exponents And Exponential Functions
Section7.7: Writing Exponential Functions
Problem 6GP
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Finite Mathematics

What is the effective interest rate of 8.1% interest compounded monthly? Show how you calculated your answer

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