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A bank offers personal loans at 5.1%p.a compounding monthly. The effective annual rate of interest (EAR) is ( to the nearest two decimal places): Select

A bank offers personal loans at 5.1%p.a compounding monthly. The effective annual rate of interest (EAR) is ( to the nearest two decimal places): Select one: a. 5.22% b. 5.17% c. 5.20% d. 0.43%

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