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Question 6 5 pts Charter Bank pays a 4.50% nominal rate on deposits, with quarterly compounding. What effective annual rate (EFF%) does the bank pay?

Question 6 5 pts Charter Bank pays a 4.50% nominal rate on deposits, with quarterly compounding. What effective annual rate (EFF%) does the bank pay? 4.5765% 4.6025% 0 4.5940% none of the above

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