10. Thuto has an individual retirement plan. His money is invested in a money market fund that pays interest on a daily basis. Over a two year period in which no deposits or withdrawals were made, the balance of his account grew from R4 500,00 to R5 268,24. The effective interest rate over this period is

[1] 8,2%.

[2] 5,8%.

[3] 9,0%.

[4] 6,1%.

[5] 8,5%.