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7. (15 Points) A streaming service charges one fee ($500) for a 2-year subscription. If a 12% nominal annual interest rate with compounding every
7. (15 Points) A streaming service charges one fee ($500) for a 2-year subscription. If a 12% nominal annual interest rate with compounding every month is used. a. What is the effective annual interest rate? b. What is the cost per year of the streaming service?
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Vector Mechanics for Engineers Statics and Dynamics
Authors: Ferdinand Beer, E. Russell Johnston, Jr., Elliot Eisenberg, William Clausen, David Mazurek, Phillip Cornwell
8th Edition
73212229, 978-0073212227
