Task: Question Answering
Input (English): Question: 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?

 Option A: 2.04%

 Option B: 6.12%

 Option C: 8%

 Option D: 8.25%

 Option E: 10%
Output (English): Option E