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What is the effective annual rate (EAR) for a nominal rate (monthly compounding) of 9.00%? Group of answer choices 9.4054% 9.4130% 9.3808% 9.4164% 9.3989%

What is the effective annual rate (EAR) for a nominal rate (monthly compounding) of 9.00%?

Group of answer choices

9.4054%

9.4130%

9.3808%

9.4164%

9.3989%

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