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    Explanation:
    Explanation/Reference:
    Explanation:
    To solve such problems, think about investing a dollar for a year. The final amount should be the same under both the quotations. Under annually compounded rate, r, $1 grows to 1+r in 1 year. Under semiannual compounding, it grows to (1+0.1/2)

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    2 = 1.1025. Since these two should be equal, we get 1+r
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    NEW QUESTION: 3
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    Explanation:
    Explanation/Reference:
    Explanation:

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