Engineering Economy

Hello I need someone to help me solve this problem !!

The second National Bank of Fullertum advertises an APR of 14% compounded monthly for student loans. Determine the APY.

Select one:

1) Less than 14%

2) Between 14% - 14.5%

3) Between 14.5% - 15%

4) Higher than 15%

and others also !!