An interest rate of 2% per quarter, compounded continuously, is closest to an effective semiannual rate of:
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An interest rate of 2% per quarter, compounded continuously, is closest to an effective semiannual rate of:
(a) 2.00% per semiannual period
(b) 2.02% per semiannual period
(c) 4.0% per semiannual period
(d) 4.08% per semiannual period
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