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Problem #7: You deposit P dollars into an account that earns a nominal rate of i compounded semiannually. At the same time, you deposit 1.6P

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Problem #7: You deposit P dollars into an account that earns a nominal rate of i compounded semiannually. At the same time, you deposit 1.6P dollars into an account that earns simple interest at an annual rate of i. If both deposits earn the same amount of interest in the last 6 months of year 8, what is i? Problem #7: Answer as a percentage, correct to 2 decimals

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