You are offered a loan at a rate of 4.5% compounded monthly. What semiannually compounded nominal rate

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You are offered a loan at a rate of 4.5% compounded monthly. What semiannually compounded nominal rate would a competing bank need to offer in order to provide an equivalent rate?

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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 05:38 AM

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You are offered a loan at a rate of 4.5% compounded monthly. What semiannually compounded nominal rate

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Given For any nominal interest rate below 454 compounde...View the full answer

Fundamentals Of Business Mathematics In Canada

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