Find what effective annual interest rate are they paying, Microeconomics

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Find what effective annual interest rate are they paying

Problem

Delta Engineering pays $2500 quarterly for their errors and omissions insurance. If paid annually, the rate is $9000. What effective annual interest rate are they paying?

The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.

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Microeconomics: Find what effective annual interest rate are they paying

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Microeconomics: Find what effective annual interest rate are they paying

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