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You have been quoted a rate of 8.8% compounded semi-annually. What is the equivalent effective quarterly rate in percentage? (Provide the numeric answer to 2

You have been quoted a rate of 8.8% compounded semi-annually. What is the equivalent effective quarterly rate in percentage? (Provide the numeric answer to 2 decimal places. For example, if your answer is 0.9458%, please type 0.95.)

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