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Find the Effective Rate Corresponding to the Given Nominal Rate

Question 174

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Find the effective rate corresponding to the given nominal rate. Round your answers to the nearest thousandth.
8% / year compounded monthly Find the effective rate corresponding to the given nominal rate. Round your answers to the nearest thousandth. 8% / year compounded monthly __________ % 8% / year compounded daily __________ % __________ %
8% / year compounded daily Find the effective rate corresponding to the given nominal rate. Round your answers to the nearest thousandth. 8% / year compounded monthly __________ % 8% / year compounded daily __________ % __________ %

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