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Calculate the equivalent periodic interest rate per payment interval for the following annuity: Monthly payments discounted at 11% compounded annually. Select one: a. 0.88793% b.
Calculate the equivalent periodic interest rate per payment interval for the following annuity: Monthly payments discounted at 11% compounded annually.
Select one:
a. 0.88793%
b. 0.91667%
c. 0.87346%
d. 1.00078%
e. 1.11572%
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