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The effective annual rate of interest...

The effective annual rate of interest corresponding to a nominal rate of 6% per annum payable half-yearly is (a) 6.06% (b) 6.07% (c) 6.08% (d) 6.09%

A

`6.07%`

B

`6.08%`

C

`6.06%`

D

`6.09%`

Text Solution

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The correct Answer is:
D
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