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ericayi ericayi
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A year ago
If a bank pays a5.5% nominal rate, with monthly compounding on deposits, what effective annual rate (EFF%) does the bank pay?


▸

5.35%



▸

5.64%



▸

6.13%



▸

6.59%

Textbook 
Financial Management: Theory and Practice

Financial Management: Theory and Practice


Edition: 4th
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Ms T.Ms T.
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A year ago
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ericayi Author
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A year ago
You make an excellent tutor!
TheMoffattMan
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Yesterday
Correct Slight Smile TY
kamikazekota
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2 hours ago
this is exactly what I needed
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