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[-75.26 Points) DETAILS TANAPMATH7 4.1.022. Find the effective rate corresponding to the given nominal rate. (Use a 365-day year. Round your answer to two decimal

[-75.26 Points) DETAILS TANAPMATH7 4.1.022. Find the effective rate corresponding to the given nominal rate. (Use a 365-day year. Round your answer to two decimal pli 8%/year compounded quarterly %/year

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