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You want to invest $ 1 2 , 0 0 0 and are looking for safe investment options. Your bank is offering you a certificate

You want to invest $12,000 and are looking for safe investment options. Your bank is offering you a certificate of deposit that pays a nominal rate of 8% that is compounded quarterly. What is the effective rate of return that you will earn from this investment?
8.102%
8.149%
8.243%
8.426%
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