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 !!

 
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