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An annual interest of 3.02% is paid on a bank account. Interest payments are made every four months. What is the simple annual interest rate?

An annual interest of 3.02% is paid on a bank account. Interest payments are made every four months. What is the simple annual interest rate? Enter your answer in percentage points and round to two decimal places, your answer is e.g. 7.26% answer in that case 7.26.

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