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If the accumulated value of an investment that is growing at 3.95% compounded semi-annually is $93,924.39, and the interest earned on this investment is $47,924.39,

If the accumulated value of an investment that is growing at 3.95% compounded semi-annually is $93,924.39, and the interest earned on this investment is $47,924.39, calculate the time period of this investment.

Calculate the effective interest rate for each of the following nominal interest rates:

a. 2.73% compounded quarterly.

b. 2.73% compounded monthly.

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