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10.3.B.3 If $1273.00 accumulates to $1603.15 in five years, six months compounded monthly, what is the effective annual rate of interest? The effective annual rate

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10.3.B.3 If $1273.00 accumulates to $1603.15 in five years, six months compounded monthly, what is the effective annual rate of interest? The effective annual rate of interest is [%. (Round the final answer to four decimal places as needed. Round all intermediate values to six decimal places as needed.)

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