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Problem 5-55 Effective Interest Rate (L04) Find the effective annual interest rate for each case. (Do not round intermediate calculations. Enter your answers as a

Problem 5-55 Effective Interest Rate (L04) Find the effective annual interest rate for each case. (Do not round intermediate calculations. Enter your answers as a percent rounded to 2 decimal places.) APR Compounding Period Effective Annual Rate 13.8% 1 month % 8.6 3 months % 10.3 6 months %

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