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23Q--- Bank A offers a savings account with an annual quoted rate of 7% compounded 12 times per annum. Bank B's software is limited to

23Q--- Bank A offers a savings account with an annual quoted rate of 7% compounded 12 times per annum. Bank B's software is limited to semi-annual compounding. What quoted rate does Bank B have to offer in order to match Bank A? Express your answer in percentage form rounded to three decimal place

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