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What is the effective annual rate of 8.25 percent compounded quarterly? O a. 8.56 percent O b. 8.25 percent O c. 8.38 percent O d.

What is the effective annual rate of 8.25 percent compounded quarterly? O a. 8.56 percent O b. 8.25 percent O c. 8.38 percent O d. 8.49 percent O e. 8.51 percent

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