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A bank charges Money Co. an interest rate of 3.5% compounded quarterly on its line of credit. If the effective interest rate increased by 0.75%,
A bank charges Money Co. an interest rate of 3.5% compounded quarterly on its line of credit. If the effective interest rate increased by 0.75%, calculate the new interest rate compounded quarterly.
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Cases In Financial Management
Authors: I.M. Pandey
3rd Edition
0071333428, 978-0071333429
