Question: please explain What is the effective annual rate for 15 percent compounded quarterly? 15.8796 3.7596 15.9896 3.7996 None of the listed items is correct

please explain What is the effective annual rate for 15 percent
please explain

What is the effective annual rate for 15 percent compounded quarterly? 15.8796 3.7596 15.9896 3.7996 None of the listed items is correct

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