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What is the effective interest rate for an investment fund that pays 8% interest compounded semiannually? A. 8.16% B. 8.40% C. 8.64% D. 4.00%

What is the effective interest rate for an investment fund that pays 8% interest compounded semiannually?

A. 8.16%

B. 8.40%

C. 8.64%

D. 4.00%

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