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If $2000 is deposited at 6.30% p.a. compounded semi-annually, what is the effective interest rate? Please give your solution correct to 2 decimal places. If

If $2000 is deposited at 6.30% p.a. compounded semi-annually, what is the effective interest rate?

Please give your solution correct to 2 decimal places. If answer is 7.24%, please indicate 7.24, but not 0.0724.

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