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Asked Sep 26, 2019
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What is the effective rate of 16% interest compounded semiannually?  And how do I enter it into a TI 84 Plus calculator?

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Expert Answer

Step 1

Calculation.

From the given information, r= 0.16 and n is 2.

Now com...

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2 0.16 1+ 2 1 =0.1664

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