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Sam is studying finance and wants to know If the effective rate of interest is 4.4%, what is the nominal annual rate compounded monthly? Sam

Sam is studying finance and wants to know If the effective rate of interest is 4.4%, what is the nominal annual rate compounded monthly?

Sam knows it is either a. 4.396324% b. 4.583382% c. 4.489827% d. 4.313684%

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