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3. Consider an annual interest rate is quoted as 4% with semiannual compounding What is the equivalent rate with (a) annual compounding, (b) monthly compounding,

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3. Consider an annual interest rate is quoted as 4% with semiannual compounding What is the equivalent rate with (a) annual compounding, (b) monthly compounding, and (c) continuous compounding? (15 Points) A. 4.00% (1+0.04/1))-1-1 B. 4.07% (1+(0.04/12))-12-1 C. 4.08% (1+0.04/3,153,600))^3,153

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