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Question 10 (1 point) A bank offers a loan that charges the nominal annual rate of 12%, compounded monthly. What is the effective annual rate

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Question 10 (1 point) A bank offers a loan that charges the nominal annual rate of 12%, compounded monthly. What is the effective annual rate of the loan? ho 12.68% 12.36% 12.55% 12.79% Question 11 (1 point) If a loan or investment uses _ compounding, then its nominal rate is equal to its effective annual rate. A

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