Task: Question Answering
Input (English): Problem: on the first of the year , james invested x dollars at proudstar bank in an account that yields 2.4 % in interest every quarter year . at the end of the year , during which he made no additional deposits or withdrawals , he had y dollars in the account . if james had invested the same amount in an account which pays interest on a yearly basis , what must the interest rate be for james to have y dollars at the end of the year ? 
Options: a ) 2.04 % , b ) 6.12 % , c ) 8 % , d ) 8.25 % , e ) 10 %
Output (English): e