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If the nominal annual interest rate is 8.5% compounded monthly, what is the effective quarterly interest rate? O a. 210% b. 4.30% O c. 1.76%

If the nominal annual interest rate is 8.5% compounded monthly, what is the effective quarterly interest rate? O a. 210% b. 4.30% O c. 1.76% d. 2.14% e.3.28%

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