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An investor has the opportunity to make an investment that will provide an effective annual yield of 12 percent. She is considering two other investments

An investor has the opportunity to make an investment that will provide an effective annual  yield of 12 percent. She is considering two other investments of equal risk that will provide compound interest monthly  and quarterly , respectively. What must the equivalent nominal annual rate ( ENAR ) be for each of these two investments to ensure that an equivalent annual yield  of 12 percent is earned?

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