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  3. 4) you make monthly payments on a loan. what is th

4) You make monthly payments on a loan. What is the effective monthly interest rate...

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4) You make monthly payments on a loan. What is the effective monthly interest rate for a loan with an 8% nominal annual interest rate if the loan is compounded a) monthly. Answer (to 5 decimal places). b) daily. Answer (to 5 decimal places) c) continuously. Answer (to 5 decimal places)

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