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October 1, 2014

October 1, 2014

Posted by **linda** on Tuesday, November 13, 2012 at 12:24pm.

- math -
**Reiny**, Tuesday, November 13, 2012 at 12:33pmThe amount invested does not matter

You simple want the annual rate equivalent to 6% per annum compounded semiannually

let that rate be i

1+i = 1.03^2

1+i = 1.0609

i = .0609

= 6.1%

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