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The credit card of Alliance Bank has a nominal interest rate of 17.5%. What is the effective annual rate of this card if quarterly compounding
The credit card of Alliance Bank has a nominal interest rate of 17.5%. What is the effective annual rate of this card if quarterly compounding method is used?
Group of answer choices
A. 19.39%.
B. 18.68%.
C. 18.97%.
D. 18.81%
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