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Compute the effective annual interest rate for 4% compounded semi-annually. Select one: a. 4.32% b. 4.04% c. 10.40% d. 8.16%

Compute the effective annual interest rate for 4% compounded semi-annually.

Select one:

a. 4.32%

b. 4.04%

c. 10.40%

d. 8.16%

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