A sum of $1000 was invested for 4 years, and the interest was compounded semiannually. If this sum amounted to $1455.09 in the given time, what was the interest rate? (Round your answer to two decimal places.)
Added by David M.
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09 Time (t) = 4 years Number of compounding periods per year (n) = 2 (semiannually) Show more…
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