Question: If 10% interest rate per year compounded quarterly, what is the effective interest rate per quarter? Select one: a. 0.83% b. 2.5% c. 7.5% d.

If 10% interest rate per year compounded quarterly, what is the effective interest rate per quarter? 

Select one: 

a. 0.83% 

b. 2.5% 

c. 7.5% 

d. 5% 

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