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Novak deposits X into a savings account at time 0, which pays interest at a nominal rate of i, compounded quarterly. Rafael deposits 4X into
Novak deposits X into a savings account at time 0, which pays interest at a nominal rate of i, compounded quarterly. Rafael deposits 4X into a different savings account at time 0, which pays simple interest at an annual rate of i. Novak and Rafael earn the same amount of interest during the last three months of the 10th year. Calculate i.
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