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Handley Bank advertises that its standard lending rate is 12% per annum compounding monthly. Which of the following rates represent effective rates that are consistent

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Handley Bank advertises that its standard lending rate is 12% per annum compounding monthly. Which of the following rates represent effective rates that are consistent with the Handley Bank quoted rate (to two decimal places)? 3.00% per quarter compounding quarterly None of the other options are correct 12.68% per annum compounding annually 1.00% per month compounding monthly More than one of the other options are correct

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