Which of the following has the highest effective annual rate
assess? 6% compounded monthly 6% compounded monthly
semi-annually 6% compounded annually 6% compounded
quarterly All other answers have the same effective annual amount
assess.
Answer 1
6% compounded monthly
DetailsEffective Annual Rate of 6%A month6.17%Half-yearly 6.09% Annual 6% Quarterly 6.14%