A leading bank is coming up with an investment that pays 8 percent interest compounded semiannually. What is the investment's effective annual rate (rEAR)? Use a financial calculator to determine the amount.
A) 8.16%
B) 8.36%
C) 8.56%
D) 8.76%
E) 8.96%

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The Answer of A leading bank is coming up with an investment that pays 8 percent interest compounded semiannually. What is the investment's effective annual rate (rEAR)? Use a financial calculator to determine the amount.
A) 8.16%
B) 8.36%
C) 8.56%
D) 8.76%
E) 8.96%

A Leading Bank Is Coming Up with an Investment That