Multiple Choice
If $10, 000 is invested on December 31, 2008, to earn compound interest semiannually, and if the future value on December 31, 2018, is $38, 697, what is the semiannual interest rate on the investment?
A) 6%
B) 7%
C) 8%
D) 9%
Correct Answer:
Verified
Correct Answer:
Verified
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