SIMPLE INTEREST AND DISCOUNT - OpenStax CNX

14) If a bank pays 5.75% compounded monthly, what is the effective interest rate? 15) Population of California in the year 1995 was 32 million. If the population grows at a rate of 2%, what will the population be in 2025? 16) According to the Law of 70, if an amount grows at an annual rate of 1%, then it doubles every seventy years. ................
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