![\"\"](\"/test/fckeditor/editor/plugins/fckeditor_wiris/integration/showimage.php?formula=65e84f83fe7bdd01224eb787b5b8b664.png\")
.Rate of interest .
Find the effective rate of interest is compounded monthly.
\Effective rate of interest is ![\"\"](\"http://www.mathskey.com/test/fckeditor/editor/plugins/fckeditor_wiris/integration/showimage.php?formula=747849135a5690a3431d88446de5c0aa.png\")
.
For monthly compounded ![\"\"](\"/test/fckeditor/editor/plugins/fckeditor_wiris/integration/showimage.php?formula=f4949482cb909c264ab516d31bf4dee1.png\")
.
Substitute all the values in the equation.
\![\"\"](\"/test/fckeditor/editor/plugins/fckeditor_wiris/integration/showimage.php?formula=4e4085ad2d6423267c7be47ddb1c5424.png\")
![\"\"](\"/test/fckeditor/editor/plugins/fckeditor_wiris/integration/showimage.php?formula=18850694d66610963738918f189db20e.png\")
![\"\"](\"/test/fckeditor/editor/plugins/fckeditor_wiris/integration/showimage.php?formula=59fde6d4e42bf07ec813ebed6edf848a.png\")
![\"\"](\"/test/fckeditor/editor/plugins/fckeditor_wiris/integration/showimage.php?formula=df2bdb99a8531f56234e7600ddf4b38e.png\")
![\"\"](\"/test/fckeditor/editor/plugins/fckeditor_wiris/integration/showimage.php?formula=90e87795895a658a584c747249c1b711.png\")
![\"\"](\"/test/fckeditor/editor/plugins/fckeditor_wiris/integration/showimage.php?formula=becaa7a8937d887e2ea39e2616dd95d0.png\")
![\"\"](\"/test/fckeditor/editor/plugins/fckeditor_wiris/integration/showimage.php?formula=11cf813d50ef8671e4a3c8f786d0aa9c.png\")
Therefore,the effective rate of interest is ![\"\"](\"/test/fckeditor/editor/plugins/fckeditor_wiris/integration/showimage.php?formula=5e304c88beb9bba5bca553ff4f6614dd.png\")
.
The effective rate of interest is ![\"\"](\"http://www.mathskey.com/test/fckeditor/editor/plugins/fckeditor_wiris/integration/showimage.php?formula=5e304c88beb9bba5bca553ff4f6614dd.png\")
.