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2- You buy a financial security at 3,000 dollars paying five times each year for 6 years. Your bank states interest rate at 12 percent

2- You buy a financial security at 3,000 dollars paying five times each year for 6 years. Your bank states interest rate at 12 percent p.a. (20 points) a. What is the effective rate? b. What is the future value of this asset

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