document.write( "Question 1154914: What is the effective rate of 9% compounded monthly? \n" ); document.write( "

Algebra.Com's Answer #777415 by ikleyn(52790) $\"\"$ $\"About$

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document.write( "9% annual rate compounded monthly (nominal value (!) ) is equivalent to (or simply IS) the yearly effective growing factor of\r\n" );
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document.write( "     = 1.0938\r\n" );
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document.write( "which is effective 9.38% annual rate.\r\n" );
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\n" ); document.write( "\n" ); document.write( "See the lesson\r
\n" ); document.write( "\n" ); document.write( " - Problems on discretely compound\r
\n" ); document.write( "\n" ); document.write( "and find there other similar solved problem to wide your horizon.\r
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