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Principal: $16,800 Interest rate: 28% 1.45 Compounded quarterly Calculate the effective rate (APY) of interest for 1 year. (Use the Table provided) (Do not round

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Principal: $16,800 Interest rate: 28% 1.45 Compounded quarterly Calculate the effective rate (APY) of interest for 1 year. (Use the Table provided) (Do not round intermediate calculations. Round your final answer to the nearest hundredth percent.) Effective rate %

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