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Al invests $5,500, at 6% interest, compounded monthly for one year. Calculate the annual percentage yield for his investment. (Round the annual percentage yield to

Al invests $5,500, at 6% interest, compounded monthly for one year. Calculate the annual percentage yield for his investment. (Round the annual percentage yield to the nearest hundredth percent)

6.40%

6.17%

5.25%

62.00%

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