A property worth $35 000 is purchased for 10% down and payments of $2100 at the end

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A property worth $35 000 is purchased for 10% down and payments of $2100 at the end of every 6 months for 12 years. What is the nominal annual rate of interest compounded semi-annually?

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Contemporary Business Mathematics with Canadian Applications

ISBN: 978-0133052312

10th edition

Authors: S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs

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Question Posted: Feb 26, 2016 03:56 AM

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A property worth $35 000 is purchased for 10% down and payments of $2100 at the end

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Amount financed 35 00000 01035 00000 35 0...View the full answer

Contemporary Business Mathematics with Canadian Applications

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