The effective annual rate of interest corresponding to a nominal rate of 14% per annum payable half-yearly is?  Choose the correct choice
A) 16.06 %
B) 16.07 %
C) 16.08 %
D) 14.49 %
E) 16.19 %

Rationale: "amount of rs . 100 for 1 year when compounded half - yearly = [ 100 * ( 1 + 7 / 100 ) 2 ] = rs . 14.49 effective rate = ( 114.49 - 100 ) = 14.49 % answer : d"
Answer: D