What is the effective interest rate for a loan of $5,000 at 10% compounded semiannually for three

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What is the effective interest rate for a loan of $5,000 at 10% compounded semiannually for three years? Use the simple interest formula method?

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Business Math

ISBN: 978-0133011203

10th edition

Authors: Cheryl Cleaves, Margie Hobbs, Jeffrey Noble

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Question Posted: Mar 11, 2016 01:52 AM

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What is the effective interest rate for a loan of $5,000 at 10% compounded semiannually for three

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Business Math

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