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Suppose you can borrow money at 8.80% per year (APR) compounded semiannually or 8.52% per year (APR) compounded monthly a. Calculate the effective annual rates.

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Suppose you can borrow money at 8.80% per year (APR) compounded semiannually or 8.52% per year (APR) compounded monthly a. Calculate the effective annual rates. Note: Do not round intermediate calculations. Enter your answers as a percent rounded to 2 decimal places. b. Which is the better deal? 8.52\% per year (APR) compounded monthly. 8,80% per year (APR) compounded semiannually

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