Determine the number of times interest would be compounded in 6 months from the interest statements (a)

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Determine the number of times interest would be compounded in 6 months from the interest statements

(a) 18% per year, compounded monthly

(b) 1% per month

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Engineering economy

ISBN: 978-0073376301

7th Edition

Authors: Leland Blank, Anthony Tarquin

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Question Posted: Dec 17, 2012 05:38 AM

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Determine the number of times interest would be compounded in 6 months from the interest statements (a)

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a As in this case the interest is componded monthly therefore the interest ...View the full answer

Engineering economy

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