The amount owed on a promissory note for $950 after two years and five months is $1036.22.

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The amount owed on a promissory note for $950 after two years and five months is $1036.22. What monthly compounded nominal rate of interest was charged on the debt?

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Fundamentals Of Business Mathematics In Canada

ISBN: 9781259370151

3rd Edition

Authors: F. Ernest Jerome, Jackie Shemko

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Question Posted: Oct 21, 2020 05:41 AM

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The amount owed on a promissory note for $950 after two years and five months is $1036.22.

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PV 950 FV 103622 n 122 29 Yn FV PV 1 1...View the full answer

Fundamentals Of Business Mathematics In Canada

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