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Type: Multiple-Choice
Category: Functions and Relations
Level: Grade 11
Standards: HSF-IF.C.8, HSF-IF.C.8b
Tags: HSF-IF.C.8 HSF-IF.C.8b
Author: HTPhysics
Created: 3 weeks ago

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Grade 11 Functions and Relations CCSS: HSF-IF.C.8, HSF-IF.C.8b

The function [math] y = (1.06)^(t/12)[/math] represents interest compounded monthly. What is the annual percent rate of growth?
  1. 6%
  2. 12%
  3. 0.5%
  4. 6.17%
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