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(1 point) Suppose $700 is invested for 2 years at a nominal yearly interest rate that is compounded monthly, further suppose it accumulates to 773.45

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(1 point) Suppose $700 is invested for 2 years at a nominal yearly interest rate that is compounded monthly, further suppose it accumulates to 773.45 after 2 years. Find the effective annual interest rate of the investment. Effective annual interest rate = %

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