It’s 60 miles an hour rate
Answer:
24.15
Step-by-step explanation:
The effective rate is calculated in the following way:

where r is the effective annual rate, i the interest rate, and n the number of compounding periods per year (for example, 12 for monthly compounding).
our compounding period is 2 since the bank pays us semiannually(two times per year) and our interest rate is 8%
so lets plug in numbers:
Max would have had to have gotten 34 out of 40 questions correct. Here's why: