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28. An investment will pay 9.40% APR with quarterly compounding. What is the effective rate of interest on the account? Submit Answer format: Percentage Round

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An investment will pay 9.40% APR with quarterly compounding. What is the effective rate of interest on the account? Submit Answer format: Percentage Round to: 2 decimal places (Example: 9.24%, % sign required. Will accept decimal format rounded to 4 decimal places (ex: 0.0924))

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