单选题 ff an investment of $ 4000 will grow to $ 6520 in four years with monthly compounding, the effective annual interest rate will be closest to:

A、

A. 11.21%.
B、

B. 12.28%.
C、

C. 12.99%.

【正确答案】 C

【答案解析】N=4; PV=-4000; FV=6520; CPT→I/Y=12.99%. The question asks for the effective annual rate and gives the beginning and ending values. That the ending value was arrived at by monthly compounding is not relevant.