Question: 3. Effective/Nominal Interest (5 points) Given a nominal annual interestrate of 15%, compounded quarterly, calculate the effective annual interest to two decimal places (e.g.. 6.78%)

3. Effective/Nominal Interest (5 points) Given a nominal annual interestrate of

3. Effective/Nominal Interest (5 points) Given a nominal annual interestrate of 15%, compounded quarterly, calculate the effective annual interest to two decimal places (e.g.. 6.78%)

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