What is the effective annual interest rate on a savings account that earns interest at a rate of 1.55% compounded monthly?

A.) 1.29%

B.) 1.55%

C.) 1.56%

D.) 1.59%

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What is the effective annual interest rate on a savings account that earns interest at a rate of 1.55% compounded monthly?A.) 1.29%B.) 1.55%C.) 1.56%D.) 1.59%

What is the effective annual interest rate on a savings account that earns interest at a rate of 1.55% compounded monthly?

A.) 1.29%

B.) 1.55%

C.) 1.56%

D.) 1.59%