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Question 5 What is the effective rate for 6.4% compounded monthly? Enter your answer as a percent value (for example, 15.25 not 0.1525). Round your

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Question 5 What is the effective rate for 6.4% compounded monthly? Enter your answer as a percent value (for example, 15.25 not 0.1525). Round your answer to two decimal places and do not enter any symbols such as $, comma or %

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