2. You promised the bank payments of 1500$ every month for the next 25 years. How...
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2. You promised the bank payments of 1500$ every month for the next 25 years. How much money will the bank lend you if the interest is 5% nominal annual rate, capitalized semi-annually? (2 points) 1500$ 2. You promised the bank payments of 1500$ every month for the next 25 years. How much money will the bank lend you if the interest is 5% nominal annual rate, capitalized semi-annually? (2 points) 1500$ 2. You promised the bank payments of 1500$ every month for the next 25 years. How much money will the bank lend you if the interest is 5% nominal annual rate, capitalized semi-annually? (2 points) 1500$
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To determine the amount of money the bank will lend we can use the formula for t... View the full answer
Related Book For
Discovering Advanced Algebra An Investigative Approach
ISBN: 978-1559539845
1st edition
Authors: Jerald Murdock, Ellen Kamischke, Eric Kamischke
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