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What is the nominal rate or annual percentage rate

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Reference no: EM133005960

Problem 1: If the effective annual interest rate is 6%, what is the nominal rate or APR (Annual Percentage Rate), given monthly compounding?

Select one:

a. 5.84%

b. 7.02%

c. 6.02%

d. 3.43%

e. 5.12%

Problem 2: Compute the effective annual interest rate, given a nominal rate of 8%, compounded weekly?

Select one:

a. 8.27%

b. 7.85%

c. 8.56%

d. 7.44%

e. 8.32%

Reference no: EM133005960

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