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Bank of Montreal is offering a mortgage rate of 5.54% per year compounded semiannually. What is the equivalent rate per year compounded annually. (EAR)? Indicate

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Bank of Montreal is offering a mortgage rate of 5.54% per year compounded semiannually. What is the equivalent rate per year compounded annually. (EAR)? Indicate your answer in percentage point and round to four decimal places. Do not put ' % ' in your response. Your

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