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DETERMINE THE EFFECTIVE INTEREST RATE: A. Per quarter, r=8% per year compunded monthly, Three interest periods per quarter, four quarterly payments per year. B.Annually, APR

DETERMINE THE EFFECTIVE INTEREST RATE:

A. Per quarter, r=8% per year compunded monthly, Three interest periods per quarter, four quarterly payments per year.

B.Annually, APR = 4.41% compunded monthly.

C. For monthly payments if the APR is 24% compunded continuously on a "risky" project.

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