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4.25 A savings bank offers $1000 certificates of deposit. Each certificate can be redeemed for $2000 after 8years. What is the nominal annual interest rate

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4.25 A savings bank offers $1000 certificates of deposit. Each certificate can be redeemed for $2000 after 8years. What is the nominal annual interest rate f the interest is compounded monthly? 4.26 What is the effective annual interest rate for the certificates of Problem 4.25

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