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Compute the effective annual rate

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Reference no: EM132743611

Problem 1: Compute the effective annual rate (EAR) if the fortnightly annual percentage rate (APR) is 7%.

Instruction: Provide your answer (in percentage) to two decimal places, without the unit (e.g., if the final answer is 12.12%, provide your answer as 12.12).

Reference no: EM132743611

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