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The nominal rate is 2% per month and compounding occurs monthly, what is the effective rate for 12 months?

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The nominal rate is 2% per month and compounding occurs monthly, what is the effective rate for 12 months?

Posted: Tue Apr 26, 2022 11:11 am
by answerhappygod
The nominal rate is 2% per month and compounding occurs monthly,
what is the effective rate for 12 months?
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