1 - Purdue University

The investment earns 6% compounded semi-annually. Calculate the monthly effective interest rate for the month of December 2004. 0.00487 0.00494 0.00500 0.00501 0.00509 A deposit is made on January 1, 2004. The investment earns interest at a constant force of interest of 6%. Calculate the monthly effective interest rate for the month of December ... ................
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