Question: 11. [-/1 Points] DETAILS MY NOTES Math 110 Course Resources Compound Interest Course Packet on the effective rate of interest Find the effective interest rate

11. [-/1 Points] DETAILS MY NOTES Math 110 Course Resources Compound

11. [-/1 Points] DETAILS MY NOTES Math 110 Course Resources Compound Interest Course Packet on the effective rate of interest Find the effective interest rate corresponding to a nominal interest rate of 48% compounded monthly. Effective interest rate (without using a calculator), reff = Effective interest rate, as a percent, rounded to 2 decimal places = %

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