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If interest is compounded twice a year, at what annual rate must you invest $2000 to have $3000 at the end of 6 years?

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civilmatthania5

Step-by-step explaination

How to calculate interest compounded semiannually

Add the nominal interest rate in decimal form to 1. The first order of operations is parentheses, and you start with the innermost one. ...

Solve step one to the power of how many compounding periods. ...

Subtract from step two. ...

Multiply step three by the principal amount.

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