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8. Calculate the following: a. What interest rate compounded monthly is equivalent to 3.25% compounded quarterly? % Round to two decimal places b. What interest

8. Calculate the following:

a. What interest rate compounded monthly is equivalent to 3.25% compounded quarterly?

Round to two decimal places

b. What interest rate compounded semi-annually is equivalent to 4.5% compounded monthly?

Round to two decimal places

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