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.11 97% 4:07 AM 1.00 points Drill Problem 12-5 [LU 12-1 (3)] Principal: $16,800 Interest rate: 28% Compounded Quarterly Calculate the effective rate (APY) of

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.11 97% 4:07 AM 1.00 points Drill Problem 12-5 [LU 12-1 (3)] Principal: $16,800 Interest rate: 28% Compounded Quarterly Calculate the effective rate (APY) of interest for 1 year. (Use the Table provided.) (Do not round intermediate calculations. Round your final answer to the nearest hundredth percent.) Effective rate References eBook & Resources Worksheet Difficulty: 2 Medium

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