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4quad Nominal and effective interest rates. Being able to calculate an effective rate from a nominal rate and vice versa is a critical skill You

4quad Nominal and effective interest rates. Being able to calculate an effective rate from a nominal rate and vice versa is a critical skill You are quoted a rate of 6% on a mortgage. What is the effective annual rate based on semiannual compounding? 6.09% 3.00% 5.83% 5.91%

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