What is the effective annual rate if the annual percentage rate is $14\%$ compounded monthly? Enter your answer as a percentage rounded to two decimal places. Do not include the percentage sign in your answer.

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Correct response: $14\mathrm{.}93+-0\mathrm{.}01\%$

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Given the EAR of $14\mathrm{.}93\%,$ what is the future value of $$8,000$ invested at an annual percentage rate of $14\%$ compounded monthly for $7$ years?

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