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Payments of 100 are made at the end of each month for a year. These payments earn interest at a nominal rate of j% convertible
Payments of 100 are made at the end of each month for a year. These payments earn interest at a nominal rate of j% convertible monthly. The interest is immediately reinvested at a nominal rate of 12% convertible monthly. At the end of the year, the accumulated value of the 12 payments and the reinvested interest is 1295.55. Calculate j
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