What is the effective monthly interest rate, Microeconomics

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What is the effective monthly interest rate

Problem

If the nominal annual interest rate is 12% compounded monthly, what is the effective monthly interest rate?

The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.

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Microeconomics: What is the effective monthly interest rate

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Microeconomics: What is the effective monthly interest rate

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