Question: 20. Given 12% per year compounded half-yearly, what is an equivalent APR compounded biyearly (every two years)? a) 6 % b) 24.72% c) 13.125% d)

20. Given 12% per year compounded half-yearly, what is an equivalent APR compounded biyearly (every two years)? a) 6 % b) 24.72% c) 13.125% d) 26.25% e) 57.35% The answer is 13.125%, can you show how to get this ans

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