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A bond trader owns a bond that pays 7%, compounded quarterly. She is comparing this to a bond that pays 6.90%, compounded monthly. What is

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A bond trader owns a bond that pays 7%, compounded quarterly. She is comparing this to a bond that pays 6.90%, compounded monthly. What is the monthly compounding equivalent rate for the trader's quarterly compounding bond? A) 6.89%. B) 6.96% C) 7.02%. D) 7.11%

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