Question 7 [ 5 points ] Herb's Financial is a local bank . This local bank usually quotes residential mortgage interest rates on the basis of daily compounding . An independent mortgage broker is quoting rates with semi - annually compounding What rate would the broker have to give to match 9 % compounded daily available from the bank ? Note : Please make sure your final answer ( s ) are in percentage form and are accurate to 2 decimal places For example 34.56 %