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what is the effective rate corresponding to the given nominal rate of 14% compounded monthly. choose correct answer : a) 3.82% b)14.75% c) 14.93% d)

what is the effective rate corresponding to the given nominal rate of 14% compounded monthly.

choose correct answer :

a) 3.82%

b)14.75%

c) 14.93%

d) 14.49%

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