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Molly Hamilton deposited $80,000 at Bank of America at 12% interest compounded quarterly. What is the effective rate (APY)? (Use the Table provided.) (Do not

image text in transcribed Molly Hamilton deposited $80,000 at Bank of America at 12% interest compounded quarterly. What is the effective rate (APY)? (Use the Table provided.) (Do not round intermediate calculations. Round your answer to the nearest hundredth percent.)

Molly Hamilton deposited $80,000 at Bank of America at 12% interest compounded quarterly. What is the effective rate (APY)? (Use the Table provided.) (Do not round intermediate calculations. Round your answer to the nearest hundredth percent.) Effective rate %

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