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A 2-month time account quotes a 7.50% annual percentage rate. What will be its effective annual rate ? A. 12.87% b 24.72 c 7.69 d

A 2-month time account quotes a 7.50% annual percentage rate. What will be its effective annual rate ?

A. 12.87%

b 24.72

c 7.69

d 7.74

e 7.64

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