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A nominal rate of 8.9% compounded semi-annually is similar to what effective rate? Select one: a. 8.0% b. 8.1% c. 9.0% d. 9.1% e. 10.0%

A nominal rate of 8.9% compounded semi-annually is similar to what effective rate? Select one: a. 8.0% b. 8.1% c. 9.0% d. 9.1% e. 10.0%

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