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1. CREDITFARM UNION PAYS WITH AN 8% COMPOUNDED SEMI-ANNUALLY AT THE AMOUNT OF $50 AT THE END OF EVERY MONTH. WHAT IS THE MONTHLY EQUIVALENT

1. CREDITFARM UNION PAYS WITH AN 8% COMPOUNDED SEMI-ANNUALLY AT THE AMOUNT OF $50 AT THE END OF EVERY MONTH. WHAT IS THE MONTHLY EQUIVALENT COMPOUNDED RATE OF INTEREST? (1.5%)
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1. CREDITFARM UNION PAYS WITH AN 8% COMPOUNDED SEMI-ANNUALLY AT THE AMOUNT OF \$50 AT THE END OF EVERY MONTH. WHAT IS THE MONTHLY EQUIVALENT COMPOUNDED RATE OF INTEREST? (1.5\%)

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