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Word Problem 12-14 (Static) (LU 12-1 (3) Molly Hamilton deposited $50,000 at Bank of America at 8% interest compounded quarterly. What is the effective rate

Word Problem 12-14 (Static) (LU 12-1 (3) Molly Hamilton deposited $50,000 at Bank of America at 8% interest compounded quarterly. What is the effective rate (APY)? (Use the Table provided.) (Do not round intermediate calculations. Round your answer to the nearest hundredth percent.) Effective rate Efective rate [ %

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