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What is the effective annual rate for an APR of 11.00 percent compounded quarterly? Multiple Choice 11.57% 10.99% 12.04% 11.46% 11.52%

What is the effective annual rate for an APR of 11.00 percent compounded quarterly?

Multiple Choice

11.57%

10.99%

12.04%

11.46%

11.52%

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