In order to compare investments, analysts will convert monthly, quarterly, semi-annual rates to annual rates. if an investment of $100,000 is invested at 4.5% twice a year compounded to semi annually, the growth can be modeled by the equation a(t) = 100,000 (1.045)^2t. what is the equivalent annual growth rate for this investment and what is it worth after 15 years?
a. 2.2% and $139,114
b. 15.0% and $193,528
c. 9.2% and $374,000
d. 9.0% and $364,248