Identify the following interest rate statements as either nominal or effective: (a) 1.3% per month; (b) 1%

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Identify the following interest rate statements as either nominal or effective:

(a) 1.3% per month;

(b) 1% per week, compounded weekly;

(c) Nominal 15% per year, compounded monthly;

(d) Effective 1.5% per month, compounded daily;

(e) 15% per year, compounded semiannually.

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Engineering Economy

ISBN: 978-0073523439

8th edition

Authors: Leland T. Blank, Anthony Tarquin

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