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your credit card company offers an annual rate of 15% and charges interest quarterly. What is the effective annual rate on this card? A. 1.16%

your credit card company offers an annual rate of 15% and charges interest quarterly. What is the effective annual rate on this card?

A. 1.16%

B. 1.04%

C. 15.87%

D. 16.08%

E. 5.09%

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