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Fly-By-Night Phil's Bodacious Small-Cap Mutual Fund pays 7.12 percent compounded quarterly. If the information above contains a periodic rate, calculate the annual percentage rate (APR).

Fly-By-Night Phil's Bodacious Small-Cap Mutual Fund pays 7.12 percent compounded quarterly. If the information above contains a periodic rate, calculate the annual percentage rate (APR). If the information above contains an annual percentage rate (APR), calculate the periodic rate (APR/m) What is the effective annual rate EAR for the fund above?

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