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1) Convert 7.23% EAR into APR. Assume a compounding period of monthly for APR. (Round to the thousandths place) 2) Convert 7.38% APR into EAR.

1) Convert 7.23% EAR into APR. Assume a compounding period of monthly for APR. (Round to the thousandths place)

2) Convert 7.38% APR into EAR. Assume APR is actually compounding quarterly. (Round to the thousandths place)

3) What is the monthly interest rate if the APR is 6.42%? (Round to the hundredths place)

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