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Question 10 (0.2 points) What is the effective nnual rate (EAR) of 8% compounded monthly? (Enter your answers as a decimal rounded to 4 decimal

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Question 10 (0.2 points) What is the effective nnual rate (EAR) of 8% compounded monthly? (Enter your answers as a decimal rounded to 4 decimal places, not a percentage. For example, enter 0.0843 instead of 8.43%) Your Answer: Answer Hide hint for Question 10 APR or stated annual interest rate is given (1+ APR/12) 12-1 EAR(Effective annual rate)

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