Find the interest rate per compounding period and the number of compounding periods in the following: 8% compounded semiannually for 4 years
a. 4%; 8 compounding periods in 4 years
b. 2%; 4 compounding periods in 4 years
c. 2%; 6 compounding periods in 4 years
d. 4%; 2 compounding periods in 4 years
a
Business
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