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What is the effective annual rate of interest if $1200.00 grows to $1700.00 in two years compounded monthly? The effective annual rate of interest as

What is the effective annual rate of interest if $1200.00 grows to $1700.00 in two years compounded monthly? The effective annual rate of interest as a percent is % (Round the final answer to four decimal places as needed. Round all intermediate values to six decimal places as needed.)

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