A bank pays interest monthly with an EAR of 13​%. What is the periodic interest rate applicable per month​?   A. 2.04​%   B. 1.22​%   C. 1.02​%   D. 0.82​%

Essentials Of Investments
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Chapter1: Investments: Background And Issues
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A bank pays interest
monthly
with an EAR of
13​%.
What is the periodic interest rate applicable
per month​?
 
A.
2.04​%
 
B.
1.22​%
 
C.
1.02​%
 
D.
0.82​%
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