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Posted on Aug 31, 2024

Which of the following APRs compounded quarterly is equivalent to an APR of 8.65% compounded daily using 360-day calendar years, 30-day months, and 3-month quarters?

a) 8.087%

b) 8.306%

c) 8.525%

d) 8.743%

e) 8.962%

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