Question: Question 4 10 pts 4. You are considering taking out a loan that has an 8% nominal annual interest rate. If interest is compounded semi-annually

Question 4 10 pts 4. You are considering taking out a loan that has an 8% nominal annual interest rate. If interest is compounded semi-annually (twice per year), what is the effective annual rate (EAR)? a. 8.00% b. 8.16% c. 8.24% d. 8.30% e. 8.48%

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