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Posted on Jul 25, 2024

Antonio borrows $ 4 , 8 6 6 from the bank for 6 years at an annual interest rate of 5 . 8 6 %

Antonio borrows $

4, 866

from the bank for

6

years at an annual interest rate of

5.86 %

compounded quarterly.

What was the effective interest rate?

%

Round to two decimal places.

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