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2) A local bank advertised the following information: interest 15% . effective annual yield 16.1583%. No mention was made of the compounding period in the

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2) A local bank advertised the following information: interest 15% . effective annual yield 16.1583%. No mention was made of the compounding period in the advertisement. Can you figure out the compounding scheme used by the bank, if so what is the compounding period

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