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Question 9. Solve the problem. Round to the nearest tenth of a percent. L nl A n L n AP 1+ PAPz Y 1+ 1

Question 9.

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Solve the problem. Round to the nearest tenth of a percent. L nl A n L n AP 1+ PAPz Y 1+ 1 n r m n n A passhook savings account has a rate of 7%. Find the effective annual yield if the interest is compounded monthly. 0 A. 7% O B. 7.3% O c. 11% O o. 7.2%

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