For an interest rate of 2% per month, the effective semiannual interest rate is: (a) 2.02% (b)

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For an interest rate of 2% per month, the effective semiannual interest rate is:
(a) 2.02%
(b) 12.005%
(c) 12.31%
(d) 12.62%

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Question Posted: Dec 17, 2012 05:41 AM

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For an interest rate of 2% per month, the effective semiannual interest rate is: (a) 2.02% (b)

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Given Interest rate per period 2 per month No of periods 6 months per semiannual per...View the full answer

Engineering economy

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