What semiannually compounded rate and effective rate of interest are being charged on a $12,000 loan if
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What semiannually compounded rate and effective rate of interest are being charged on a $12,000 loan if payments of $1022.89 at the end of every six months will repay the loan in seven years?
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The original loan is the present value of all payments That is PV 12...View the full answer
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Related Book For
Fundamentals Of Business Mathematics In Canada
ISBN: 9781259370151
3rd Edition
Authors: F. Ernest Jerome, Jackie Shemko
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