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I'm having trouble with a couple questions. Please show work so I can understand. Thanks! If a bank gives you an interest rate of 6%

I'm having trouble with a couple questions. Please show work so I can understand. Thanks!

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If a bank gives you an interest rate of 6% per year compounded monthly, what is the effective rate that your account is earning per year? o 6.0% 0 6.0564% 0 6.1678% O 6.2563%

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