SOLUTION: Find the effective rate equivalent to 9% compounded semi-annually

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Question 1193458: Find the effective rate equivalent to 9% compounded semi-annually
Answer by ikleyn(52781) About Me  (Show Source):
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The annual growth coefficient is

    %281+%2B+0.09%2F2%29%5E2 = 1.045%5E2 = 1.092025.


So, the annual effective rate is  9.2025%.    ANSWER

Solved and explained.