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Posted on Jun 12, 2024

A bank account pays 4.00% interest every six months. What is the effective annual interest rate? Enter your answer in percentages and round to two

A bank account pays 4.00% interest every six months. What is the effective annual interest rate? Enter your answer in percentages and round to two decimal places, is your answer e.g. 7.2614% then answer 7.26.

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