You've won the lottery, and your winnings will pay out in equal quarterly payments (that is, you will receive one payment every 3 months).. You plan to put this money into a savings account with a 15% APR, compounded monthly. What is the effective quarterly interest rate for the account? (Give your answer in percent format, rounded to 2 decimal places.) Typed numeric answer will be automatically saved.

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Q: Please show work

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