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17 May, 16:19

Over a 10 year period, an original principal of $4500 accumulated to $6925 in an account in which interest was compounded semiannually. Determine the effective annual rate of interest (rounded to 2 decimal places)

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  1. 17 May, 17:06
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    Determine the effective annual rate of interest (rounded to 2 decimal places)

    % anual 4,36%

    Step-by-step explanation:

    Monthly % anual % semiannualy N Monthly Exponentiation VF

    4500 4,36% 2,18% 20 4500 1,54 6.925,41
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