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The 1-year LIBOR is currently at 8% and is compounded quarterly. What it the closest equivalent rate on a continuously compounded basis? Group of answer

The 1-year LIBOR is currently at 8% and is compounded quarterly. What it the closest equivalent rate on a continuously compounded basis?

Group of answer choices

7.80%

7.90%

8.00%

8.10%

8.20%

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