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k What is the effective interest rate for an investment fund that pays 11% interest compounded monthly? (Use spreadsheet software or a financial calculator to

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What is the effective interest rate for an investment fund that pays 11% interest compounded monthly? (Use spreadsheet software or a financial calculator to calculate your answer. Do not round any intermediary calculations, and round your final answer two decimal places, X.XX%.) A. 11.3% B. 11.92% C. 11.57% D. 11%

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