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What monthly compounded nominal rate would put you in the same financial position as 7 . 0 % compounded semiannually? ( Do not round intermediate

What monthly compounded nominal rate would put you in the same financial position as

7.0 %

compounded semiannually?

(

Do not round intermediate calculations and round your final answer to

2

decimal places.

)

The compounded monthly nominal rate

%

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