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A credit card company advertises that the interest rate it charges customers on money carried on the card is only 2.5% per month! Calculate and

A credit card company advertises that the interest rate it charges customers on money carried on the card is "only 2.5% per month!" Calculate and express this rate as the following: (a) a nominal interest rate, (b) an effective annual interest rate, and (c) an effective interest rate per period (M).

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