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(1) Your bank offers you a 5.0% APR compounded semi-annually. What is the effective annual rate (EAR)? (2) Your bank offers you a 16% APR

(1) Your bank offers you a 5.0% APR compounded semi-annually. What is the effective annual rate (EAR)?

(2) Your bank offers you a 16% APR compounded quarterly. What is the effective monthly rate?

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