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QUESTION

Been working on this question for a while and am struggling. LeGo Financials offer two investment plans.

Been working on this question for a while and am struggling. Would really appreciate any help. Thx!

LeGo Financials offer two investment plans. Investment A pays 9 percent interest compounded monthly, whereas Investment B pays 10 percent interest compounded semiannually. What are the effective annual rates of Investment A and Investment B?

9.38 percent and 10.50 percent, respectively

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