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John has bought shares in the Sunny Corporation. He purchased the shares at $37.50 per share. Six years later, the shares were worth 97.27. Find

John has bought shares in the Sunny Corporation. He purchased the shares at $37.50 per share. Six years later, the shares were worth 97.27. Find the nominal rate compounded quarterly which he has earned on his investment. Set up the equation and solve using the algebraic method.

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