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ABC deposits $ 3 0 , 0 0 0 at the end of every quarter to save up $ 5 5 0 0 0 0

ABC deposits $

30, 000

at the end of every quarter to save up $

550000

for a capital project in

4

years. To achieve its goal, what is the norminal interest rate rate compounded quarterly does ABC required on its investment? What is the effecive rate?

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