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A term given in months is converted to years by dividing by:
A24
B36
C12
D52
Answer & Solution
Correct answer: C. 12
1. An annual rate needs a term in years.
2. Eighteen months becomes 18 over that divisor.
3. The divisor is 12.
_Source: OpenStax, Contemporary Mathematics, Ch 6 'Money Management'_
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