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1) A company makes a $1,000 investment every year on December 31. Interest is 10% per year, but compounded semi-annually (every 6 months). They make 10 investments in all.

a) Find the effective annual interest rate,
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The response provides the steps to compute the effective annual interest rate.

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1) A company makes a $1,000 investment every year on December 31. Interest is 10% per year, but compounded semi-annually (every 6 months). They make ...

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