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Find the effective annual rate if the annual percentage rate is 10% compounded monthly. a.10.38% b.10.25% c.10.52% d.10.47% e.10.00%

Find the effective annual rate if the annual percentage rate is 10% compounded monthly.

a.10.38% b.10.25% c.10.52% d.10.47% e.10.00%

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