What is the equivalent effective semiannual interest rate

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Reference no: EM132018055

Suppose that a savings account pays a nominal rate of interest of 9.2% convertible daily. What is the equivalent effective semiannual interest rate?

(State your answer as a percentage rounded to three places after the decimal)

The response must be typed, single spaced, must be in times new roman font (size 12) and must follow the APA format.

Reference no: EM132018055

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