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If $248,750.00 is invested today at a 2% interest rate compounded quarterly for 7 years, a. Calculate the annual percentage yield (APY). (Round your final

If $248,750.00 is invested today at a 2% interest rate compounded quarterly for 7 years, a. Calculate the annual percentage yield (APY). (Round your final answer to two decimal places.) b. Calculate the effective interest rate. (Round your final answer to two decimal places.)

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