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Premier Federal Credit Union is offering a 2-year certificate of deposit with a stated rate of 6.50% and quarterly compounding, The effective rate for the

Premier Federal Credit Union is offering a 2-year certificate of deposit with a stated rate of 6.50% and quarterly compounding, The effective rate for the certificate is:

A. 6.6879%.

B. 6.6602%.

C. 6.6056%.

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