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Question 20 (4 points) An account pays 4.90% APR with quarterly compounding. What is the effective rate on this account? 4.99% 4.95% 5.03% 4.90% 5.07%

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Question 20 (4 points) An account pays 4.90% APR with quarterly compounding. What is the effective rate on this account? 4.99% 4.95% 5.03% 4.90% 5.07%

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