After 10 years of semi-annual compounding, an $8000 investment in a GIC earns $3000 in...
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Finance
After 10 years of semi-annual compounding, an $8000 investment in a GIC earns $3000 in interest. What is the nominal interest rate?
Select one:
a.3.21%
b.3.61%
c.3.71%
d.3.51%
e.4.21%
Please no excel ark answers. Thank you
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