A leading bank is coming up with an investment that pays 8 percent interest compounded semiannually. What is the investment's effective annual rate (rEAR)? Use a financial calculator to determine the amount.
A. 8.16%
B. 8.36%
C. 8.56%
D. 8.76%
E. 8.96%
Answer: A
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Answer the following statement true (T) or false (F)
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