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A certain savings-and-loan association advertises that it pays 10% nominal interest, compounded quarterly. What is the effective interest rate per year? 0 2.5% 025% 10.38%

A certain savings-and-loan association advertises that it pays 10% nominal interest, compounded quarterly. What is the effective interest rate per year? 0 2.5% 025% 10.38% 10.49%

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