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2. [ 15 points) i. Jason's credit card statement shows that he is paying 15.9% nominal interest rate. If his card balances compound monthly, what

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2. [ 15 points) i. Jason's credit card statement shows that he is paying 15.9% nominal interest rate. If his card balances compound monthly, what effective annual interest rate is Jason paying on his credit card bills. ii. Paul and Robert both invested $10,000 for ten years at 12% per year. Paul received monthly compounding and Robert received quarterly compounding. How much more did Paul receive than Robert

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