The annual membership dues in the Rolling Meadows Golf and Country Club can be paid by four

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The annual membership dues in the Rolling Meadows Golf and Country Club can be paid by four payments of $898.80 at the beginning of each calendar quarter, instead of by a single payment of $3428 at the beginning of the year. What effective rate of interest is the club charging the quarterly instalment payers on the unpaid balance of their annual dues?
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