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Your bank account pays a 5% nominal rate of interest. the interest is compounded quarterly. which of the following statements is correct? a. the periodic rate of interest is 5% and the effective rate of interest is also 5%.b. the periodic rate of interest is 1.25% and the effective rate of interest is 2.5%.c. the periodic rate of interest is 5% and the effective rate of interest is greater than 5%.d. the periodic rate of interest is 1.25% and the effective rate of interest is greater than 5%.e. the periodic rate of interest is 2.5% and the effective rate of interest is 5%
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Your bank account pays a 5% nominal rate of interest. the interest is compounded quarterly. which of...
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