Multiple Choice
If the stated interest rate is 12% per year, but it is compounded semiannually, then the adjusted rate used for present or future value calculations will be
A) 12% per year.
B) 3% per quarter.
C) 6% per 6-month period.
D) 1% per 6-month period.
Correct Answer:
Verified
Correct Answer:
Verified
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