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Below are the choices:
a.0.0142
b.1.0142
c.14.2
d.1.42
Every month your balance includes the original amount (100%) and the added the monthly interest (1.42%). So each month the balance will be 101.42% of the prior month's balance. Move the decimal point two places to the left to make that into a decimal.
Answer:
b. 1.0142
