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Nici has an amount of R1 200 000 that she wants to invest for a five-year term in a fixed interest rate investment. She can

Nici has an amount of R1 200 000 that she wants to invest for a five-year term in a fixed interest rate investment. She can invest the amount in a term deposit with Beta Bank Ltd. It is for a term of 5 years and interest accrues semi-annually. The nominal rate of interest is 10.25%. The effective rate of interest is: a. 9.83% b. 9.35% c. 9.68% d. 9.51% e. None of the above

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