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A bank offers 7.00% on savings accounts. What is the effective annual rate of interest is compounded monthly? Submit Answer format: Percentage Round to 4

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A bank offers 7.00% on savings accounts. What is the effective annual rate of interest is compounded monthly? Submit Answer format: Percentage Round to 4 deomal prices (Example 2.2 34%26sign required Wilacoept decimal formar rounded to 6 decimal places (ex 0092434

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