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Calculate the effective interest rate for each of the following nominal interest rates: (Question relates to Mathematics of Business and Finance). a. 4.59% compounded quarterly.

Calculate the effective interest rate for each of the following nominal interest rates: (Question relates to Mathematics of Business and Finance).

a. 4.59% compounded quarterly.

____________% Round to two decimal places

b. 4.59% compounded monthly.

___________% Round to two decimal places

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