You invest $1,000 for 3 years at 6% per annum compounding quarterly. What is the equivalent annual simple rate of interest?
Select one:
A. 1.500%
B. 6.000%
C. 6.521%
D. 6.987%
Home / Questions / You invest $1,000 for 3 years at 6% per annum compounding qu
You invest $1,000 for 3 years at 6% per annum compounding quarterly. What is the equivalent annual simple rate of interest?
Select one:
A. 1.500%
B. 6.000%
C. 6.521%
D. 6.987%
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