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Ross Land has a loan of $ 8 , 5 0 0 compounded quarterly for four years at 6 % . What is the effective

Ross Land has a loan of $ $8, 500$ compounded quarterly for four years at $6 % .$ What is the effective interest rate for the loan?

Click here to view page $1$ of the future value table.

Click here to view page $2$ of the future value table.

The effective interest rate is

$% . ($ Round to two decimal places as needed. $)$

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