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What is the effective annual rate of a bond whose nominal rate is 7% compounded quarterly? 10.47% 11.57% 10.72% 10.27% 11.23%
What is the effective annual rate of a bond whose nominal rate is 7% compounded quarterly?
- 10.47%
- 11.57%
- 10.72%
- 10.27%
- 11.23%
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