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) Problem 2 [EAR to SAIR Conversion]: The effective annual rate is 3% (i.e., re = .03). What is the equivalent stated rate if compounded

) Problem 2 [EAR to SAIR Conversion]: The effective annual rate is 3% (i.e., re = .03). What is the equivalent stated rate if compounded semi-annually? That is, solve for rs such that 1+re = (1+(rs/2))2 given re = .03.

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