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Lee Bank pays a 5.20% nominal rate on deposits, with quarterly compounding. What effective annual rate (EFF%) does the bank pay? Group of answer choices

Lee Bank pays a 5.20% nominal rate on deposits, with quarterly compounding. What effective annual rate (EFF%) does the bank pay? Group of answer choices 5.22% 5.30% 4.86% 5.09% 4.85%

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