Question: Given a 24% APR compounded every 2 years, what is the effective quarterly rate? A. 21.66% B. 4.02% C. 1.43% D. 12.00%

Given a 24% APR compounded every 2 years, what is the effective quarterly rate?
A. 21.66%
B. 4.02%
C. 1.43%
D. 12.00%

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