Calculate the nominal interest rate compounded monthly that provides the same benefit as 6% p.a. simple interest

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Calculate the nominal interest rate compounded monthly that provides the same benefit as 6% p.a. simple interest for an investment of $12,000 for nine months.

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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 09:05 AM

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Calculate the nominal interest rate compounded monthly that provides the same benefit as 6% p.a. simple interest

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Mathematics Of Business And Finance

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