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Given an effective bi-weekly rate of 0.07115%, find the equivalent effective monthly rate. (You might need to keep more than the usual number of decimal

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Given an effective bi-weekly rate of 0.07115%, find the equivalent effective monthly rate. (You might need to keep more than the usual number of decimal places!) a. 0.15423% b. 0.16348% c. 0.15577%x d. 0.16503% e. 0.16811% Your answer is incorrect. The correct answer is: 0.15423%

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