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rill Problem 12-5 (Algo) [LU 12-1 (3)] rincipal: $17,500 iterest rate: 28% ompounded quarterly ialculate the effective rate (APY) of interest for 1 year. (Use

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rill Problem 12-5 (Algo) [LU 12-1 (3)] rincipal: $17,500 iterest rate: 28% ompounded quarterly ialculate the effective rate (APY) of interest for 1 year. (Use the Table provided.) (Do not round intermediate calculations. Round your nal answer to the nearest hundredth percent.)

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