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3. For an effective interest rate of 10%, what will be its nominal rate if the compounding period is: a. Compounded monthly b. Compounded quarterly

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3. For an effective interest rate of 10%, what will be its nominal rate if the compounding period is: a. Compounded monthly b. Compounded quarterly c. Compounded semi-annually d. Compounded bi-monthly e. Compounded bi-weekly

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