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Problem #2 1 A bank offers a savings account with a stated annual rate of 10% with interest compounded quarterly. Suppose that the bank wants

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Problem #2 1 A bank offers a savings account with a stated annual rate of 10% with interest compounded quarterly. Suppose that the bank wants to switch to monthly compounding, but use an annual stated rate that leaves savers no worse off or better off at the end of the year compared to their current situation. What stated annual interest rate should it use with monthly compounding

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