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Royal Niagara Golf and Country Club allows members to pay the annual membership fee by a single payment of $11,000 at the beginning of the

Royal Niagara Golf and Country Club allows members to pay the annual membership fee by a single payment of $11,000 at the beginning of the year or by payments of $1,000 at the end of each month. What monthly compounded nominal rate of interest is being paid by members who select the monthly plan

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