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Question 8 (2 marks) What is the effective rate on a certificate of deposit that has a nominal rate of 11.5% with interest compounded

Question 8 (2 marks) What is the effective rate on a certificate of deposit that has a nominal rate of 11.5% with interest compounded quarterly? a. 11.50% b. 10.90% c. 12.01% d. 13.13% Oa. Ob. Oc. Od.

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