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If cash flows are received on a semi-annual basis; what is the effective semiannual interest rate if 8.8% per year compounded monthly? 4.42% 4.04%

If cash flows are received on a semi-annual basis; what is the effective semiannual interest rate if 8.8% per year compounded monthly? 4.42% 4.04% 5.48% 3.94% 4.48%

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