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Need final answer only, asap A bank quotes a rate 8.5% expressed with annual compounding (i.e. an effective annual rate). Convert the banks rate to

image text in transcribedNeed final answer only, asap

A bank quotes a rate 8.5% expressed with annual compounding (i.e. an effective annual rate). Convert the banks rate to an equivalent rate expressed with semi-annual compounding? Enter your answer as a percentage to 2 decimal places, but do not enter the \% sign

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