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1. At what nominal annual rate of interest will money double itself in four years,eight months if compounded monthly? 2.A bank pays 10.6% compounded semi

1. At what nominal annual rate of interest will money double itself in four years,eight months if compounded monthly?

2.A bank pays 10.6% compounded semi annually on certain types of deposits if interest is compounded quarterly what nominal rate of interest will maintain the same effective rate of interest?

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