Henrietta went to a bank and obtained a personal loan with an interest rate of 3.18% compounded
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Henrietta went to a bank and obtained a personal loan with an interest rate of 3.18% compounded monthly. If 1% was added to the effective interest rate, calculate the new nominal interest rate compounded monthly.
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Related Book For
Mathematics Of Business And Finance
ISBN: 9781927737545
4th Edition
Authors: Larry Daisley, Thambyrajah Kugathasan, Diane Huysmans
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