You put $100 in a bank for a fixed two year term. The interest rate on the loan is 8% per annum, compounded semi-annually. Because the term is fixed, you are not allowed to withdraw interest at any point
What is the total amount of interest earned in the final half-year of the term?
A) $4.00
B) $4.50
C) $4.67
D) $4.16
E) $4.33
B
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