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Suppose your bank account pays interest monthly with an APR of 7% per year What...

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Question

Finance

Suppose your bank account pays interest monthly with an APR of 7% per year

What is the monthly interest rate you are getting?

Enter your answer in the following format: 0.1234

Hint: Answer is between 0.0052 and 0.0063

Answer & Explanation Solved by verified expert
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