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Phil Nelson deposited $35,000 at Wachovia Bank at 3.5% interest compounded quarterly.What is the APY to the nearest hundredth percent? 3.58% 3.55% 4.22% 3.50%

Phil Nelson deposited $35,000 at Wachovia Bank at 3.5% interest compounded quarterly.What is the APY to the nearest hundredth percent?

3.58%

3.55%

4.22%

3.50%

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