The future value of a cash flow occurring 36 months from today is $15000, and its present value is $12,000. The effective monthly rate which corresponds to these values is closest to: Group of answer choices A) 0.21% B) 7.72% C) 0.62% D) Need more information to answer the question E) 5.73%

Essentials Of Investments
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Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
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Chapter1: Investments: Background And Issues
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The future value of a cash flow occurring 36 months from today is $15000, and its present value is $12,000. The effective monthly rate which corresponds to these values is closest to:
Group of answer choices
A) 0.21%
B) 7.72%
C) 0.62%
D) Need more information to answer the question
E) 5.73%
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