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1. What effective interest rate was paid on an investment, given that an invested amount of $43,255 resulted in $73,234 in 8 years? a) effective

1. What effective interest rate was paid on an investment, given that an invested amount of $43,255 resulted in $73,234 in 8 years?

a) effective monthly interest rate

b) quarterly effective interest rate

c) semi-annual effective interest rate

d) effective annual interest rate

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