Question: Question 16 5 points Save Answer What is the effective rate of interest on a CD that has a nominal rate of 11.3 percent with

Question 16 5 points Save Answer What is the effective rate

Question 16 5 points Save Answer What is the effective rate of interest on a CD that has a nominal rate of 11.3 percent with interest compounded monthly? Input your answer as a percentage in the format xx.xx and do not use the % symbol

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