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Which of the following has the least effective annual interest rate? Select the correct response: 1 2 % compounded quarterly 1 2 . 2 %

Which of the following has the least effective annual interest rate?

Select the correct response:

12 %

compounded quarterly

12.2 %

compounded annually

11.7 %

compounded semi

-

annually

11.5 %

compounded monthly

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