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A bank offers you the following 3 options: 1. j4=16.75% 2. j12=16.35% 3. j52=16.2% What is the highest annual effective rate (j1) of the 3

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A bank offers you the following 3 options: 1. j4=16.75% 2. j12=16.35% 3. j52=16.2% What is the highest annual effective rate (j1) of the 3 options? (Determine the equivalent rate compounded annually in each case.)

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