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Solve the problem. Round interest to the nearest percent and time to the nearest period. Find the interest rate paid if a deposit of$22,600grows to$28,753.30in
Solve the problem. Round interest to the nearest percent and time to the nearest period.
Find the interest rate paid if a deposit of$22,600grows to$28,753.30in 3years, with interest compounded semiannually.
a) 3%
b) 7%
c) 3.5%
d)6%
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