What nominal rate of interest, compounded monthly, corresponds to an effective rate of 8%? r≈nothing% (Round to three decimal places as needed.)

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Question

What nominal rate of interest, compounded monthly, corresponds to an effective rate of 8%?

r≈nothing% (Round to three decimal places as needed.)

math

Answer 1

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What nominal rate of​ interest, compounded​ monthly, corresponds to an effective rate of 8​%? r≈nothing​% ​(Round to three decimal places as​ needed.)