Compute the nominal annual rate of interest compounded semi-annually on a loan of $48 000 repaid in

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Compute the nominal annual rate of interest compounded semi-annually on a loan of $48 000 repaid in installments of $4000 at the end of every 6 months in 10 years.

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Contemporary Business Mathematics with Canadian Applications

ISBN: 978-0133052312

10th edition

Authors: S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs

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Question Posted: Feb 26, 2016 03:58 AM

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Compute the nominal annual rate of interest compounded semi-annually on a loan of $48 000 repaid in

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PV n 48 00000 PMT 400000 n 2...View the full answer

Contemporary Business Mathematics with Canadian Applications

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