Determine the interest rate of the compound sub-period, Financial Management

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Determine the interest rate of the compound sub-period

Assume that you deposit $50 per month into a saving account that pays an interest of 12% per annum compounded monthly.

A) Determine the Interest rate of the compound sub-period.

B) Determine how much money will be available within two years.

C) Calculate the annual effective interest rate.

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Financial Management: Determine the interest rate of the compound sub-period

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