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Now you are trying to save for a trip to New York City in two years. If your hotel and your airfare combined costs $1250,

Now you are trying to save for a trip to New York City in two years. If your hotel and your airfare combined costs $1250, what interest rate when compounded semi-annually would you need to earn on the money you deposit today if you could only deposit $800?
  • A. 15.4%
  • B. 21.2%
  • C. 10.8%
  • D. 23.6%

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