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Floyd Ferris invested $3,000 into an account five years ago. Today his account has grown to have a balance of $3,927.50. Given that his account

Floyd Ferris invested $3,000 into an account five years ago. Today his account has grown to have a balance of $3,927.50. Given that his account offered monthly compounding of interest, the APR on this account is was closest to:

A) 5.00%

B) 5.25%

C) 5.40%

D) 5.54%

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