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Calculate effective annual interest rate (EAR) for the following investments. (a) A bank CD that...

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Finance

Calculate effective annual interest rate (EAR) for the following investments.

(a)

A bank CD that pays 7.95 percent compounded quarterly. (Round answer to 2 decimal places, e.g. 15.25%.)

Effective annual rate enter the effective annual rate rounded to 2 decimal places %

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