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Marit Brunsell deposited $60,000 at Bank of America at 6% interest compounded quarterly. What is the effective rate (APY)? (Do not round intermediate calculations.

Marit Brunsell deposited $60,000 at Bank of America at 6% interest compounded quarterly. What is the effective rate (APY)? (Do not round intermediate calculations. Round your answer to the nearest hundredth percent.) Effective rate %

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