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If 10% interest rate per year compounded monthly, what is the effective interest rate per month? O a. 5% O b. 2.5% O c. 7.5%

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If 10% interest rate per year compounded monthly, what is the effective interest rate per month? O a. 5% O b. 2.5% O c. 7.5% O d. 0.83%

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