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Question 1 Calculate the effective interest rate for each nominal annual interest rate and compounding frequency. Show all the work please shown. Round your answer

Question

1

Calculate the effective interest rate for each nominal annual interest rate and compounding frequency. Show all the work please

shown. Round your answer to

2

decimal places.

. 12 %

Quarterly compounding

. 7 %

Semiannual compounding

. 14 %

Continuous compounding

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