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An amount of $1100.00 earns $400.00 interest in three years, two months. What is the effective annual rate if interest compounds quarterly? The effective annual

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An amount of $1100.00 earns $400.00 interest in three years, two months. What is the effective annual rate if interest compounds quarterly? The effective annual rate of interest as a percent is %. (Round the final answer to four decimal places as needed. Round all intermediate values to six docimal places as needed.)

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