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Suppose a credit union pays a nominal 2% on savings accounts. Find the effective annual yield if the interest is compounded monthly APY= 1+ n

Suppose a credit union pays a nominal 2% on savings accounts. Find the effective annual yield if the interest is compounded monthly APY= 1+ n . Do not round until the end. Round to the nearest hundredth of a percent. Do not enter answer with a percent sign

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