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Carla Company invested $1,900 for 1 year at a stated rate of 10%. Interest is compounded semiannually. What interest rate is used for the computations?

image text in transcribed Carla Company invested $1,900 for 1 year at a stated rate of 10%. Interest is compounded semiannually. What interest rate is used for the computations? What is the effective interest rate? (Do not round intermediary calculations. Only round the percentage to two decimal places, X.XX\%) The interest rate used for the computations is % The effective interest rate is %

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