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Q1: 1- Mia has been offered a savings account with an advertised nominal interest rate of 6% per year. However, the interest is compounded monthly.

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1- Mia has been offered a savings account with an advertised nominal interest rate of 6% per year. However, the interest is compounded monthly. Mia wants to know the Effective (True) Annual Rate (EAR) to compare it with other offers she has received

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