Question: The nominal interest rate is 1 0 % compounded quarterly ( four times per year ) . What is the effective annual interest rate? Express

The nominal interest rate is 10% compounded quarterly (four times per year). What is the effective annual interest rate?
Express your answer as a percentage rounded to the nearest one-hundredth decimal place (for example, enter 15.47 for an answer of 15.4695236%)

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