Suppose the periodic rate for six month sis 4%. Is the equivalent periodic rate for three months
Question:
(i) Equal to 4% × 3/6 = 2%?
(ii) Less than 2%?
(iii) Greater than 2%?
Answer the question without doing any calculations. Explain your choice.
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The equivalentperiodic rate for 3 months is ...View the full answer
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