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12 or 16 Given a 16% APR compounded every 3 years, what is the effective monthly rate? (Note: retain at least four places of a

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12 or 16 Given a 16% APR compounded every 3 years, what is the effective monthly rate? (Note: retain at least four places of a decimal in your calculation) Select one 1.09% 16.87% 0.14% 13.96% O 5.33%

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