Multiple Choice
Buddy Bolly just received his annual bank statement. One year ago, Buddy deposited $10,000 in a savings account. Today, his balance is $10,509.45. Buddy's savings account interest is compounded quarterly. Buddy received an annualized interest rate of __________ percent.
A) 6
B) 5
C) 4
D) 3
Correct Answer:
Verified
Correct Answer:
Verified
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