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Effective Annual Interest

LearnSignalLearnSignal Dublin, IrelandPosts: 5 Associate
edited December 2014 in Level 1 Questions
If you are offered a rate of 5%, compounded monthly, on an account that requires a minimum running balance of $6,500, what is the effective annual rate of interest paid?

Effective Annual Interest 23 votes

7.8
17%
LeChiffreEopithecusgoogs1484ryleibel 4 votes
5
0%
5.12
82%
RoyDmaboi_1daMavericknmaczkrishTatoonervaThomasWsaltman95roverfanclubLearnSignalConnMaguire22rdxMargottmcinernymarianmihaiarhelpaReynoldshferociousPahtsan 19 votes
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