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A bank pays interest monthly with an EAR of 6.17%. What is the periodic interest rate applicable per month? a. 0.50%. b. 0.42%. c. 0.48%.

A bank pays interest monthly with an EAR of 6.17%. What is the periodic interest rate applicable per month?

	a.	0.50%.
	b.	0.42%.
	c.	0.48%.
	d.	0.55%.
	e.	0.52%.

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