Question: Question 3 (2 points If the nominal interest rate is 2% per quarter and interest is compounded once per quarter, what are the effective quarterly

Question 3 (2 points If the nominal interest rate is 2% per quarter and interest is compounded once per quarter, what are the effective quarterly and annual interest rates? Choose the best answer. Exactly 2%; exactly 8% Exactly 2%; strictly greater than 8% Any of these are possible. Strictly greater than 2%; strictly greater than 8% Strictly greateraan 296; exactly 8%

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