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What compound interest per period would make the future amount under a simple interest of 8.0 percent per period for 12 periods equivalent to the

What compound interest per period would make the future amount under a simple interest of 8.0 percent per period for 12 periods equivalent to the future amount from the same deposit earning compound interest over the same number of periods? State the answer by rounding to two digits after the decimal point in a percentage format.

Use the Microsoft Excel goal seek function to derive the answer. Thank you.

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