Sonia cold heart deposited 50000 into a bank at the end of, Ask an Expert

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Sonia Cold heart deposited $50,000 into a bank. At the end of six months, she withdrew the money and received $52, 246.

If the bank paid interest based on monthly compounding, what was the effective annual interest rate being applied to Sonia's money?

(report it as a percentage; use up to two decimal places)

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92826920

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