What is the rate compounded semi-annually that results in ₱625 accumulating to ₱1100 in 42 months? a. 2.71% b. 8.13% c. 16.37% d. 16.82%

Intermediate Algebra
19th Edition
ISBN:9780998625720
Author:Lynn Marecek
Publisher:Lynn Marecek
Chapter12: Sequences, Series And Binomial Theorem
Section12.3: Geometric Sequences And Series
Problem 12.59TI: New grandparents decide to invest 3200 per month in an annuity for their grandson, The account will...
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What is the rate compounded semi-annually that results in ₱625 accumulating to ₱1100 in 42 months?

a. 2.71%
b. 8.13%
c. 16.37%
d. 16.82%
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