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$900 is deposited into an account that pays an annual rate of 2.75% compounded quarterly. What is the APY for the account after 1 year?

$900 is deposited into an account that pays an annual rate of 2.75% compounded quarterly. What is the APY for the account after 1 year? Round your answer to the hundredth place. a 2.78% b 2.55% c 2.81% d 2.9%

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