Solve the problem.The State Employees' Credit Union offers a 1-year certificate of deposit with an APR (or effective rate) of 5.3%. If interest is compounded quarterly, find the actual interest rate. Round to the nearest tenth of a percent.

A. 5.2%
B. 6.2%
C. 5.0%
D. 5.4%


Answer: A

Mathematics

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B.

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