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5- 6.31 Calculate effective annual interest rate (EAR) for the following investments. A bank CD that pays 6.72 percent compounded quarterly. (Round answer to 2

5- 6.31

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Calculate effective annual interest rate (EAR) for the following investments. A bank CD that pays 6.72 percent compounded quarterly. (Round answer to 2 decimal places, e.g. 15.25%.) Effective annual rate

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