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11% compounded anually 11/2=5.5 =0.055% 1 + 0.055 = 1.055 2 -1= 0.113025= 1.13% incorrect Suppose you can borrow money at 11.00% per year (APR)
11% compounded anually 11/2=5.5 =0.055%
1 + 0.055 = 1.0552-1= 0.113025= 1.13% incorrect
Suppose you can borrow money at 11.00% per year (APR) compounded semiannually or 9.12% per year (APR) compounded monthly. a. Calculate the effective annual rates. (Do not round intermediate calculations. Enter your answers as a percent rounded to 2 decimal places.)Step by Step Solution
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Port Infrastructure Finance
Authors: Hilde Meersman, Eddy Van De Voorde, Thierry Vanelslander
1st Edition
0415720060, 978-0415720069
