Navdeep is saving money for his next trip after the pandemic is over. He invests $1700 at an interest rate of 3.8% per annum, compounded semi-annually, for the next 4 years. What is the actual interest rate used in calculating her accumulated amount? a) 0.038 b) 0.019 c) 0.076 d) 3.8

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5. Navdeep is saving money for his next trip after the pandemic is over. He invests $1700 at an interest rate of
3.8% per annum, compounded semi-annually, for the next 4 years. What is the actual interest rate used in
calculating her accumulated amount?
a) 0.038
b) 0.019
c) 0.076
d) 3.8
Transcribed Image Text:5. Navdeep is saving money for his next trip after the pandemic is over. He invests $1700 at an interest rate of 3.8% per annum, compounded semi-annually, for the next 4 years. What is the actual interest rate used in calculating her accumulated amount? a) 0.038 b) 0.019 c) 0.076 d) 3.8
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