A debt of $12,000 resulted in $6000 of interest charged in 6 short years. If the interest

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A debt of $12,000 resulted in $6000 of interest charged in 6 short years. If the interest rate was compounded monthly, calculate the nominal interest rate charged and the equivalent effective interest rate charged.

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Mathematics Of Business And Finance

ISBN: 9781927737545

4th Edition

Authors: Larry Daisley, Thambyrajah Kugathasan, Diane Huysmans

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Question Posted: Aug 30, 2024 09:06 AM

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A debt of $12,000 resulted in $6000 of interest charged in 6 short years. If the interest

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Mathematics Of Business And Finance

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