Question: Save Submit Assignment for Grading tions Multiple Choice 05-139 Question 17 of 20 Charter Bank pays a 5.00% nominal rate on deposits, with monthly compounding.

Save Submit Assignment for Grading tions Multiple Choice 05-139 Question 17 of 20 Charter Bank pays a 5.00% nominal rate on deposits, with monthly compounding. What effective annual rate (EFF%) does the bank pay? O a. 5.12% O O O b. 4.96% c. 5.32% d. 6.40% e. 5.01% O lcon ke 5 - 9

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