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What is the effective interest rate for nominal rate 6.6%6.6% compounded semi-annually? a. 7.06% b. 7.07% c. 6.1% d. 6.789%

What is the effective interest rate for nominal rate 6.6%6.6% compounded semi-annually?

a. 7.06%

b. 7.07%

c. 6.1%

d. 6.789%

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