What semiannually compounded rate and effective rate of interest are being charged on a $12,000 loan if

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What semiannually compounded rate and effective rate of interest are being charged on a $12,000 loan if payments of $1022.89 at the end of every six months will repay the loan in seven years?

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Fundamentals Of Business Mathematics In Canada

ISBN: 9781259370151

3rd Edition

Authors: F. Ernest Jerome, Jackie Shemko

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Question Posted: Oct 21, 2020 05:34 AM

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What semiannually compounded rate and effective rate of interest are being charged on a $12,000 loan if

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The original loan is the present value of all payments That is PV 12...View the full answer

Fundamentals Of Business Mathematics In Canada

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