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Gringotts Wizarding Bank offers a personal loan that will require you to pay 6 . 7 5 % per annum, compounded quarterly. What is the

Gringotts Wizarding Bank offers a personal loan that will require you to pay

6.75 %

per annum, compounded quarterly. What is the effective annual rate charged by the bank?

(

round to the

2

nd decimal

)

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