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An investment with semi-annual compounding has an effective rate of 9.60%. The nominal rate is: Do not do any interim rounding, state your answer in

An investment with semi-annual compounding has an effective rate of 9.60%. The nominal rate is:

Do not do any interim rounding, state your answer in percentage form to 2 places (0.0975 = 9.75), do not label your answer ($, %, etc.).

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