Find the per annum interest rate with quarterly compounding

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Reference no: EM132014081

Suppose a mortgage has an interest rate of 6.5% per annum with monthly compounding.

Find the per annum interest rate with quarterly compounding that would lead to the same effective annual rate.

The response must be typed, single spaced, must be in times new roman font (size 12) and must follow the APA format.

Reference no: EM132014081

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