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Consider a $100 investment paying 3.5% compounded daily, what is the equivalent quarterly rate ? 0.8750% 0.8776% 0.0095% none of the above 0.8788%

Consider a $100 investment paying 3.5% compounded daily, what is the equivalent quarterly rate ?

0.8750%

0.8776%

0.0095%

none of the above

0.8788%

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