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Your grandmother deposited $100 in a savings account for you 25 years ago. The money has been earning an annual rate of 12% interest, compounded

Your grandmother deposited $100 in a savings account for you 25 years ago. The money has been earning an annual rate of 12% interest, compounded quarterly. What is the effective annual rate of interest? Group of answer choices 12.55% 12% 13.30% 11.65% 12.25%

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