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An interest rate of 18% Nominal Annual/Quarterly in Advance is equivalent to which of the following rates Nominal Semiannual/Monthly in Advance, please include a complete

An interest rate of 18% Nominal Annual/Quarterly in Advance is equivalent to which of the following rates Nominal Semiannual/Monthly in Advance, please include a complete procedure within responding to this question:

a) 0.247%

b) 12.248%

c) 8.373%

d) 9.138%

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