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21. You are investing in a CD today that has a nominal rate of 12.00% that compounds monthly. What is the periodic rate? a. b.

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21. You are investing in a CD today that has a nominal rate of 12.00% that compounds monthly. What is the periodic rate? a. b. What is the effective annual rate? C. If you invest $50,000 in the CD, how much will you have after three years

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