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8. What is the effective annual rate of 5.25 percent compounded monthly?
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- Find the nominal rate compounded semi annually which is equivalent to 20% compounded quarterly. What is the corresponding effective rate?What is the effective annualized rate compounded quarterly that is equivalent to 12.000% per annum compounded continuously?What is the APY of 7%, compounded monthly? Round your answer to the nearest hundredth of a percent.