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


Answer: B

Mathematics

You might also like to view...

Write the percentage as a fraction or decimal, as indicated.Write as a fraction.37%

A.  
B.
C.  
D.  

Mathematics

Compute the gradient of the function at the given point.  

A. 9i + 3j B. 2i - 4j C. 18i + 12j D. 18i - 12j

Mathematics

Write the point-slope form in slope-intercept form.y - 6 = -5(x + 6) 

A. y = -5x - 24 B. y = -5x - 32 C. y = -5x - 25 D. y = 5x - 26

Mathematics

Match the equation and correlation with a graph. ? ?

What will be an ideal response?

Mathematics