A small company that makes modular bevel gear drives with a tight swing ratio for optimizing pallet
Question:
A small company that makes modular bevel gear drives with a tight swing ratio for optimizing pallet truck design was told that the interest rate on a mortgage loan would be an effective 4% per quarter, compounded monthly. The owner was confused by the terminology and asked you to help. What are
(a) The APR and
(b) The APY?
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Step by Step Answer:
a Use equation for effective rate per mont...View the full answer
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Saikumar Ramagiri
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