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What is the effective rate of interest on a CD that has a nominal rate of 9.5 percent with interest compounded monthly? a. 9.86% b.
What is the effective rate of interest on a CD that has a nominal rate of 9.5 percent with interest compounded monthly?
| a. | 9.86% | |
| b. | 9.92% | |
| c. | 10.02% | |
| d. | 9.74% |
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Handbook Of Consumer Finance Research
Authors: Jing Jian Xiao
2nd Edition
3319288857, 978-3319288857
