Mathematics, 03.02.2021 01:00 ack12

A $500 investment in a 12-month CD with an interest rate of 4.89% compounded monthly, earns $25.01 interest in one year. What effective rate of interest does
this investment earn?

Answers: 3

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A $500 investment in a 12-month CD with an interest rate of 4.89% compounded monthly, earns $25.01...