What is the effective annual rate of interest if $1100.00 grows to $1400.00 in four years compounded semi-annually?

EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN:9781337514835
Author:MOYER
Publisher:MOYER
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 31P
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What is the effective annual rate of interest if$1100.00grows to$1400.00in four years compounded semi-annually?

What is the effective annual rate of interest if $1100.00 grows to $1400.00 in four years compounded
semi-annually?
Transcribed Image Text:What is the effective annual rate of interest if $1100.00 grows to $1400.00 in four years compounded semi-annually?
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