Solve the problem.A local bank advertises that it pays interest on savings accounts at the rate of 3% compounded monthly. Find the effective rate. Round answer to two decimal places.

A. 36%
B. 3.40%
C. 3.04%
D. 3.44%


Answer: C

Mathematics

You might also like to view...

Provide an appropriate response.Is f continuous on (-2, 4]?  

A. No B. Yes

Mathematics

Find the exact area under the curve between the indicated values of x.y = ; between x = 1 and x = 3

A.
B.
C. 3
D.

Mathematics

Use synthetic division to find the quotient.

A. x2 + x + 1
B. x3 + x2 + x + 1
C. x2 + x + 1 + 
D. x3 + x2 + x + 1 + 

Mathematics

Solve the problem.Find the value for x in the rectangular prism. Use exact values.  7 in.

A. 3 in.
B.  in.
C. 2 in.
D. 310 in.

Mathematics