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3. For the annual interest rates 2.5% and 7.5% i. Compute the corresponding daily rate ii. Compute the corresponding effective rate if the interest rate

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3. For the annual interest rates 2.5% and 7.5% i. Compute the corresponding daily rate ii. Compute the corresponding effective rate if the interest rate is compounded daily iii. Compute the corresponding effective rate if the interest rate is compounded instantaneously

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