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Charter Bank pays a 9.90% nominal rate on deposits, with monthly compounding. What effective annual rate (EFF%) does the bank pay? O a. 10.15% O

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Charter Bank pays a 9.90% nominal rate on deposits, with monthly compounding. What effective annual rate (EFF%) does the bank pay? O a. 10.15% O b. 10.23% O c. 10.3696 O d. 10.27% O e. 9.90%

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