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SHOW ALL WORK CanAm Financial offers investments that pay 12 percent interest compounded monthly, whereas UniMex Financial offers investments that pay 12.25 percent interest compounded

SHOW ALL WORK

CanAm Financial offers investments that pay 12 percent interest compounded monthly, whereas UniMex Financial offers investments that pay 12.25 percent interest compounded semiannually. Which investment offers the better effective annual return?

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