Question $12$

$1$ pts

Deon has $$4000\mathrm{.}00$ invested at $4\mathrm{.}5\%$ compounded semi$-$annually at her bank. In order to make a comparison with another financial institution she needs to know the effective rate of interest at her bank. What is the effective annual rate of interest?

$1\mathrm{.}12\%$

$4\mathrm{.}55\%$

$4\mathrm{.}5\%$

$9\mathrm{.}10\%$

$2\mathrm{.}28\%$