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What is the effective interest rale for an imvestment fund that pays 4% interest compounded monthir? (Use spreadsheet software or a francial calculator to calculato

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What is the effective interest rale for an imvestment fund that pays 4% interest compounded monthir? (Use spreadsheet software or a francial calculator to calculato your answer. Do not round ary intermediary calculations, and round your final answer two decimal places, 4% ) A. 4% B. 4.07% C. 404% D. 433%

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