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47.- Stockman's Bank will pay 4.2%, compounded annually, on a savings account. A competitor, Mesalands Savings, offers monthly compounding on savings accounts. What is the

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47.- Stockman's Bank will pay 4.2%, compounded annually, on a savings account. A competitor, Mesalands Savings, offers monthly compounding on savings accounts. What is the minimum annual interest rate that Mesalands needs to pay to make its annual yield exceed that of Stockman's? 2750

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