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6.30 Effective annual interest rate: Find the effective annual interest rate (EAR) for each of the following a. 6 percent compounded quarterly b.499 percent compounded

6.30 Effective annual interest rate: Find the effective annual interest rate (EAR) for each of the following a. 6 percent compounded quarterly b.499 percent compounded monthly c. 7.25 percent compounded semiannually d. 56 percent compounded daily

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