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What is the effective annual rate (EAR) for a nominal rate (monthly compounding) of 3.20 %? SET YOUR CALCULATOR TO 4 DECIMAL PLACES THEN INPUT

What is the effective annual rate (EAR) for a nominal rate (monthly compounding) of 3.20 %?

SET YOUR CALCULATOR TO 4 DECIMAL PLACES THEN INPUT THE NUMBER AS PERCENTAGE ROUNDING TO 2 DECIMALS. DO NOT ENTER THE % SYMBOL..i.e. if your answer is 7.77%, enter it as 7.77

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