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Problem 3.LO2.8 35 Question Help . A bank advertises a nominal annual interest rate of 4.3% on a loan. However, interest is compounded monthly. In
The course name is MT217M3. It is a Finance class and I am unsure how to solve this screenshotted question.
Problem 3.LO2.8 35 Question Help . A bank advertises a nominal annual interest rate of 4.3% on a loan. However, interest is compounded monthly. In decimal form, what is the effective interest rate on the loan? In decimal form. what is the effective interest rate on the loan? H (Enter your answer in decimal form. Round to four decimal places.)