[Solved] Calculate the effective rate for 1 0 % in

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Calculate the effective rate for 1 0 % interest compounded semiannually. Express the effective simple interest rate as a percentage. r _ ( eff )

Calculate the effective rate for

10 %

interest compounded semiannually. Express the effective simple interest rate as a percentage. r

_(

eff

) = % (

Round to two decimal places as needed.

)

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