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: suppose you are offered 12% compounded monthly. What is the effective annual rate? 1. O 11.7% 2. O 14.7% 3. O 13.7% 4. O

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: suppose you are offered 12% compounded monthly. What is the effective annual rate? 1. O 11.7% 2. O 14.7% 3. O 13.7% 4. O 12.7%

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