An investment earned 5.8% compounded monthly for 6 years, and then 3.8% compounded quarterly for another 4. Determine the annual rate of interest per year compounded annually.
A) 4.01
B) 4.11
C) 5.01
D) 5.11
E) 5.21

Question

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The Answer of An investment earned 5.8% compounded monthly for 6 years, and then 3.8% compounded quarterly for another 4. Determine the annual rate of interest per year compounded annually.
A) 4.01
B) 4.11
C) 5.01
D) 5.11
E) 5.21

An Investment Earned 5