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Ryan is considering moving his money to a new savings plan offering a three-year fixed-term deposit that pays a 5.6% annual percentage rate (APR) with

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Ryan is considering moving his money to a new savings plan offering a three-year fixed-term deposit that pays a 5.6% annual percentage rate (APR) with monthly compounding. Ryan's curfent financial manager offers to match the rate he has been offered. The account at Ryan's current bank would pay interest every six months. How much interest will he need to earn every six months to match the new savings plan? ( Hint: you have to find an effective half yearly rate) Answer in % and include 4 decimal places. Do not include the '\%' in your answer. E.g., 10.1234 would be entered if the answer was 10.1234%

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