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A bank pays interest semiannually with an Effective Annual Rate (EAR) of 13.70%. What is the periodic interest rate applicable semiannually? 5.64% 14.17% 6.07% 6.63%

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A bank pays interest semiannually with an Effective Annual Rate (EAR) of 13.70%. What is the periodic interest rate applicable semiannually? 5.64% 14.17% 6.07% 6.63% 13.26%

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