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1.nominal rate of 8% compounded monthly will result into holding period rate of__________ with a holding interval of 2 years 2. If you take out

1.nominal rate of 8% compounded monthly will result into holding period rate of__________ with a holding interval of 2 years

2. If you take out a loan in the amount of 10,000 payable as lump sum with interest in two years your payment in two years will be_____. Suppose that the bank charges 8% APR compounded monthly.

can you show me steps on how to solve this I am confused.

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