A vacation property valued at $250 000 was bought for 15 payments of $22 000 due at

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A vacation property valued at $250 000 was bought for 15 payments of $22 000 due at the end of every 6 months. What nominal annual rate of interest compounded annually was charged?

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Contemporary Business Mathematics With Canadian Applications

ISBN: 9780135285015

12th Edition

Authors: Ali R. Hassanlou, S. A. Hummelbrunner, Kelly Halliday

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Question Posted: Oct 27, 2020 07:09 AM

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A vacation property valued at $25 000 was bought for 15 payments of $2200 due at the end of every 6 months. What nominal annual rate of interest compounded annually was charged?
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A vacation property valued at $250 000 was bought for 15 payments of $22 000 due at

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Principal Amount 250 000 Compound n Semi annually 2Year Time t in years 152 75 Years Total Am...View the full answer

Contemporary Business Mathematics With Canadian Applications

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