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You deposit $ 1,016 into your bank and it grows to $ 2,540 in 17 years. Your bank pays interest compounded monthly. A. What was
You deposit $ 1,016 into your bank and it grows to $ 2,540 in 17 years. Your bank pays interest compounded monthly.
A. What was the annual percentage rate (APR)?
B. What was the effective annual rate (EAR)?
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