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Account A credits interest at a rate of 8% convertible quarterly for the first two years and 5% annually afterward. What is the annual rate

Account A credits interest at a rate of 8% convertible quarterly for the first two years and 5% annually afterward. What is the annual rate of discount that account B must offer annually so that 1000 invested in either account will accumulate to the same value after 5 years?

A

1%

B

6.2%

C

5.91%

D

6.28%

E

5.75%

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