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For $75,000, Liz buys an annuity-due that payment 12,000 every other year. Liz's first payment occurs today, and the last payment occurs at time 18 years. Determine the annual nominal interest rate convertible semiannually earn by Liz's investment. a.) 2.88% b) 5.93% c) 11.69% d) 12.03%