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Question 1 You have an interest rate of 8.44% compounded quarterly. What is the equivalent effective annual interest rate? a) 7.819 b) 7.71% c) 8.7196

Question 1 You have an interest rate of 8.44% compounded quarterly. What is the equivalent effective annual interest rate? a) 7.819 b) 7.71% c) 8.7196 d) 8.9196 e) 9.7196

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