Find the monthly compounded nominal interest rate that is equivalent to an effective rate of 21%.

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Find the monthly compounded nominal interest rate that is equivalent to an effective rate of 21%.

Find the monthly compounded nominal interest rate that is equivalent to an effective rate of 21%.

▸ 1.75%

▸ 23.144%

▸ 1.929%

▸ 19.214%

▸ 1.601%

Textbook

Business Mathematics in Canada

Edition: 11^th

Authors: Jerome, Worswick

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