You want to borrow $100 for a year at an annual rate of 8% compounded semi-annually.The effective annual rate of the loan is 8.04 percent.

Name: You want to borrow $100 for a year at an annual rate of 8% compounded semi-annually.The effective annual rate of the loan is 8.04 percent.
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The Answer of You want to borrow $100 for a year at an annual rate of 8% compounded semi-annually.The effective annual rate of the loan is 8.04 percent.

You Want to Borrow $100 for a Year at an Annual