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Question 6 (1 point) Calculate the annual effective rate equivalent to a nominal rate of 8.96% compounded quarterly. Round your answer to 2 decimal places

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Question 6 (1 point) Calculate the annual effective rate equivalent to a nominal rate of 8.96% compounded quarterly. Round your answer to 2 decimal places (as a percent but don't include the % sign). Your Answer: Answer Question 7 (1 point) Calculate the annual effective rate equivalent to a nominal rate of 8.82% compounded semi-annually. Round your answer to 2 decimal places as a percent (but don't include the % sign). Your

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