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If the effective annual interest rate is 13%, what is the nominal annual rate if compounding is bi-monthly? a. 13.42% b. 13.88% c. 12.35% d.

If the effective annual interest rate is 13%, what is the nominal annual rate if compounding is bi-monthly?

13.42%

13.88%

12.35%

12.60%

13.72%

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