A mortgage has a nominal interest rate of 3.45% compounded semi-annually. If the bank that issued the

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A mortgage has a nominal interest rate of 3.45% compounded semi-annually. If the bank that issued the mortgage added 1.50% to the effective interest rate, calculate the new mortgage rate compounded semi- annually.

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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 mortgage has a nominal interest rate of 3.45% compounded semi-annually. If the bank that issued the

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Mathematics Of Business And Finance

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