3-45 A student bought a $75 used guitar and agreed to pay for it with a single...

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3-45 A student bought a $75 used guitar and agreed to pay for it with a single $85 payment at the end of 6 months. Assuming semiannual (every 6 months) compounding, what is the nominal annual interest rate? What is the effective

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Engineering Economic Analysis

ISBN: 9780357419687

11th Edition

Authors: Donald Newnan, Ted Eschenbach, Jerome Lavelle

Question Posted: Oct 26, 2024 07:01 AM

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A student bought a $75 used guitar and agreed to pa for it with a single $85 payment at the end of 6 months Assuming semiannual (every 6 months) compounding, what is the nominal annual interest rate?...
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3-45 A student bought a $75 used guitar and agreed to pay for it with a single...

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Engineering Economic Analysis

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