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1a) Calculate the effective interest rate that is equivalent to 5.12% compounded monthly. b) Calculate the effective interest rate that is equivalent to 2.75% compounded

1a) Calculate the effective interest rate that is equivalent to 5.12% compounded monthly.

b)

Calculate the effective interest rate that is equivalent to 2.75% compounded semi-annually.

c) Compounded quarterly, at what nominal annual rate of interest will $3761 become $4987 in 45 months?

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