SOLUTION: For each of the following accounts, determine the percent change per compounding period. Give your answer in both decimal and percentage form.
5% APR compounded monthly.
Please
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5% APR compounded monthly.
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Question 997558: For each of the following accounts, determine the percent change per compounding period. Give your answer in both decimal and percentage form.
5% APR compounded monthly.
Please help, I have over 50 questions similar to this one, and do not understand how to do it! Explanation needed! Answer by Alan3354(69443) (Show Source):
You can put this solution on YOUR website! For each of the following accounts, determine the percent change per compounding period. Give your answer in both decimal and percentage form.
5% APR compounded monthly.
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5% per year --> 5/12% per month
= 0.41666...% per month
