1 Edward heard that he could triple his money in 11 years if he invested it in a large telecommunications business What nominal interest rate compounded monthly does the business offer 2 Calculate the effective interest rate for each of the following nominal interest rates a 2 19 compounded quarterly Round to two decimal places b 2 19 compounded monthly

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1.Edward heard that he could triple his money in 11 years if he invested it in a large telecommunications business. What nominal interest rate compounded

1.Edward heard that he could triple his money in 11 years if he invested it in a large telecommunications business. What nominal interest rate compounded monthly does the business offer?

Calculate the effective interest rate for each of the following nominal interest rates:

a. 2.19% compounded quarterly.

Round to two decimal places

b. 2.19% compounded monthly.

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