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An investment opportunity promises a stated interest rate of 6 percent with semiannual compounding. Which of the following statements is most correct? The periodic rate

An investment opportunity promises a stated interest rate of 6 percent with semiannual compounding. Which of the following statements is most correct?

		The periodic rate is greater than 3 percent.
		The periodic rate is less than 3 percent.
		The effective annual rate is less than 6 percent.
		The effective annual rate is greater than 6 percent.
		The effective annual rate is 6 percent.

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