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Please show work. Thanks. 4. Given an effective annual interest rate of 12%, what is the nominal interest rate compounded quarterly? A) 11.5 B) 12.0

Please show work. Thanks.

4. Given an effective annual interest rate of 12%, what is the nominal interest rate compounded quarterly? A) 11.5 B) 12.0 C) 12.4 D 12.5

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