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Given i(4) = 7.875%, find the equivalent effective monthly rate.
A) j 12 = 8.11063%
B) j 12 = 1.96875%
C) j 12 = 8.41903%
D) j 12 = 0.65625%
E) j 12 = 0.65199%

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  • 1. Given i(4) = 7.875%, find the equivalent effective monthly rate. A) j 12 = 8.11063% B) j 12 = 1.96875% C) j 12 = 8.41903% D) j 12 = 0.65625% E) j 12 = 0.65199%