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What nominal annual interest rate compounded monthly is equivalent to an effective annual discount rate of 8% per year for the first 10 years followed
What nominal annual interest rate compounded monthly is equivalent to an effective annual discount rate of 8% per year for the first 10 years followed by a nominal annual discount rate of 5% compounded daily for the second 10 years? Note: There are 365 days in a year. Give your answer as a percent rounded to three decimal places
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