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. What is the effective annual rate if a financial institution promises a 8$ rate compounded monthly? A. 8 . 00$ B . 8 .

. What is the effective annual rate if a financial institution promises a 8$ rate compounded monthly? A. 8 . 00$ B . 8 . 168 C. 8. 24% D. 8 . 30$ E. 8. 33$

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