What is the apy or effective rate on your investment

Reference no: EM13333992

6) You have $7,500 in a 12 month Certificate of Deposit that pays 8% APR that compounds quarterly. What is the APY or effective rate on your investment?
A) 8.0%
B) 8.24%
C) 8.36%
D) Not enough information available

Reference no: EM13333992

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