Question: You contribute ( $ 1 0 6 7 ) at the beginning of each year to your child's college fund. Your bank

You contribute \(\$ 1067\) at the beginning of each year to your child's college fund. Your bank pays you a rate of \(4.10\%\) per year compounded semi-annually on the account.
What is the annually compounded rate of interest that is equivalent to \(4.10\%\) compounded semi-annually?
Answer:
You contribute \ ( \ $ 1 0 6 7 \ ) at the

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