Engineering Economy
Hello I need someone to help me solve this problem !!
The second National Bank of Fullertum advertises an APR of 14% compounded monthly for student loans. Determine the APY.
Select one:
1) Less than 14%
2) Between 14% – 14.5%
3) Between 14.5% – 15%
4) Higher than 15%
and others also !!