Molly hamilton deposited 80000 at bank of america at 16


Molly Hamilton deposited $80,000 at Bank of America at 16% interest compounded quarterly.

What is the effective rate (APY)? (Do not round intermediate calculations. Round your answer to the nearest hundredth percent.)

  Effective rate %

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Financial Management: Molly hamilton deposited 80000 at bank of america at 16
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