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17) A bank offers personal loans at 4.1%p.a compounding monthly. The effective annual rate of interest (EAR) is ( to the nearest two decimal places):

17)

A bank offers personal loans at 4.1%p.a compounding monthly. The effective annual rate of interest (EAR) is ( to the nearest two decimal places):

4.18%

4.14%

4.16%

0.34%

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