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After 10 years of semi-annual compounding, an $8000 investment in a GIC earns $3000 in...

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Finance

After 10 years of semi-annual compounding, an $8000 investment in a GIC earns $3000 in interest. What is the nominal interest rate?

Select one:

a.3.21%

b.3.61%

c.3.71%

d.3.51%

e.4.21%

Please no excel ark answers. Thank you

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