Question: The future value of $ 1 0 0 , 0 0 0 earning a 6 % nominal annual rate compounded quarterly for 5 years equals

The future value of $100,000 earning a 6% nominal annual rate compounded quarterly for 5 years equals $134,885.02. What nominal annual rate compounded quarterly would give you the same present value? In other words, convert the 6% nominal annual rate compounded quarterly into an effective annual rate.
6.90%
7.10%
6.17%
6.14%
 The future value of $100,000 earning a 6% nominal annual rate

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