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A bank advertises a nominal annual interest rate of 10.2% on a loan. However, interest is compounded monthly. In decimal form, what is the

A bank advertises a nominal annual interest rate of 10.2% on a loan. However, interest is compounded monthly. In decimal form, what is the effective interest rate on the loan? In decimal form, what is the effective interest rate on the loan? (Enter your answer in decimal form. Round to four decimal places.)

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