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What is the effective annual rate if a bank charges you 8.48 percent compounded quarterly? A. 9.46 percent B. 8.48 percent C. 8.20 percent D.

What is the effective annual rate if a bank charges you 8.48 percent compounded quarterly? A. 9.46 percent B. 8.48 percent C. 8.20 percent D. 8.75 percent E. 9.02 percent

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