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Eric deposits 100 into a savings account at time 0, which pays interest at an annual...

Eric deposits 100 into a savings account at time 0, which pays interest at an annual nominal rate of i, compounded semiannually. Mike deposits 200 into a different savings account at time 0, which pays simple interest at an annual rate of i. Eric and Mike earn the same amount of interest during the last 6 months of the 8th year.

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= 9.46%

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