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1) An account is earning interest at a nominal annual rate of 12% compounded quarterly (i(t) = 12%) a) What is the effective annual rate

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1) An account is earning interest at a nominal annual rate of 12% compounded quarterly (i(t) = 12%) a) What is the effective annual rate of interest? ICONV | CY EFF Icers 12.5509 NOM 12 b) If $450 is on deposit for 4 years what will be the accumulated amount in the account? TVM N IY PMT FV PV

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