What nominal interest rate per year is equivalent to an effective 18% per year compounded semiannually? Select one: o a. 17.26 o b. 21.81 O c. 18.81 d. 24.33

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter7: Exponents And Exponential Functions
Section7.8: Transforming Exponential Expressions
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What nominal interest rate per year is equivalent to an effective
18% per year compounded semiannually?
Select one:
O a. 17.26
o b. 21.81
O c. 18.81
o d. 24.33
o e. 19.75
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Transcribed Image Text:What nominal interest rate per year is equivalent to an effective 18% per year compounded semiannually? Select one: O a. 17.26 o b. 21.81 O c. 18.81 o d. 24.33 o e. 19.75 Activate Windows Go to Settinos to activate Window
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