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You invest $1,000 for 3 years at 6% per annum compounding quarterly. What is the equivalent annual simple rate of interest? Select one: A. 1.500%

You invest $1,000 for 3 years at 6% per annum compounding quarterly. What is the equivalent annual simple rate of interest?

Select one:

A. 1.500%

B. 6.000%

C. 6.521%

D. 6.987%

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