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An interest rate is quoted as 8% per annum with semi-annual compounding. What is the equivalent rate with monthly compounding? 8.16% 7.87% 14.39% 14.65% 10.47%

An interest rate is quoted as 8% per annum with semi-annual compounding. What is the equivalent rate with monthly compounding? 8.16% 7.87% 14.39% 14.65% 10.47% 10.31% 10.57% 8.60% 7.84%

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