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Calculate effective annual interest rate (EAR) for the following investments. (a) A bank CD that pays 8.10 percent compounded quarterly. (Round answer to 2 decimal

Calculate effective annual interest rate (EAR) for the following investments.

(a)

A bank CD that pays 8.10 percent compounded quarterly. (Round answer to 2 decimal places, e.g. 15.25%

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