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A bank pays interest quarterly with an EAR of 7%. What is the periodic interest rate applicable per quarter? A. 2.05% B. 1.37% C. 3.42%

A bank pays interest quarterly with an EAR of 7%. What is the periodic interest rate applicable per quarter? A. 2.05% B. 1.37% C. 3.42% D. 1.71%

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