Question: Hi, need help on this question thanks for your time! (will give review) What is the effective annual rate of 23% APR compounded every 4

Hi, need help on this question thanks for your time! (will give review)

What is the effective annual rate of 23% APR compounded every 4 years? Select one: O a. 5.75% b. This question is incorrect, compounding has to be over a period less than a Year, such as Monthly, Quarterly etc. c. 1.41% d. 17.71% e. 25.06%

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