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9. A bank pays 11.6% compounded semi-annually on certain types of deposits, If interest is compounded monthly, what nominal rate of interest will maintain the

9. A bank pays 11.6% compounded semi-annually on certain types of deposits, If interest is compounded monthly, what nominal rate of interest will maintain the same effective rate of interest? The nominal rate of interest Is __% (Round the final answer to four decimal places as needed. Round all intermediate values to six decimal places as needed.

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