1 . The legal interest rate charged by the bank for housing loans is 1 2 ....

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Question:

1 .

The legal interest rate charged by the bank for housing loans is

12.00 %,

and the actual annual interest rate is

12.55 % .

According to this information, the interest is likely to be compounded:

.

Half a year B

.

Monthly C

.

Daily D

.

Every season

Related Book For answer-question

Income Tax Fundamentals 2013

ISBN: 9781285586618

31st Edition

Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill

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Posted Date: Feb 10, 2024 03:46 AM

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1 . The legal interest rate charged by the bank for housing loans is 1 2 ....

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To determine the frequency of compounding we need to consider the relationship between the nominal i... View the full answer

Income Tax Fundamentals 2013

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