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What is the effective annual rate (keff) of 11.83% compounded 26 times a year. Round answer to two decimal places in percentage terms (for example
What is the effective annual rate (keff) of 11.83% compounded 26 times a year. Round answer to two decimal places in percentage terms (for example 9.22%, not 0.09 or 0.0922). Note that 2 times a year = semiannual, 4 times a year = quarterly, 12 times a year = monthly, 26 times a year = bi-weekly, 52 times a year = weekly, and 365 times a year = daily. PLEASE SHOW IN EXCEL
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