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What is the effective annual interest rate when a nominal rate of 12% per year is compounding monthly? b. How many months does it take
What is the effective annual interest rate when a nominal rate of 12% per year is compounding monthly? b. How many months does it take for a present sum of money to double if the nominal interest rate is 12% per year and compounding quarterly? c. How many months does it take for present sum of money to triple if the nominal interest rate is 12% per year and compounding quarterly
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