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The nominal annual interest rate compounded monthly is 8.00%. What is the equivalent nominal annual interest rate compounded semi-annually? A: 8.21587% B: 8.13452% C: 7.72780%

The nominal annual interest rate compounded monthly is 8.00%. What is the equivalent nominal

annual interest rate compounded semi-annually?

A: 8.21587%

B: 8.13452%

C: 7.72780%

D: 7.97183%

E: 7.89049%

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