You are investing a sum of money for 4 years.You earn a simple interest rate of r = 10% for the first 2 years and j12 = 6% for the last 2 years.What is the equivalent effective annual rate of return,j,you earn over each of the 4 years?
A) 8.81%
B) 8.07%%
C) 7.98%
D) 7.84%
Correct Answer:
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