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You are trying to determine what nominal annual interest rate you will be earning on a monthly compounding at the local bank. Over two years,

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You are trying to determine what nominal annual interest rate you will be earning on a monthly compounding at the local bank. Over two years, you agree to make monthly deposits of $ th at the beginning of each month into a bank account. At the end of the two years, there is $260 in your account. What is the annual percentage rate? 9.26% 7.62% 8.40 8.00% 8.82%

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